Spokesperson on Arts, Culture, Gaeilge and the Gaeltacht Aengus Ó Snodaigh TD made the call after the share price of Hammersons crashed by 92%.
Teachta Ó Snodaigh said: "Due to the financial despair Hammersons finds itself in, the State should step in and ensure that the full terrace of houses on Moore Street - which was the final headquarters of the Irish Republic's Provisional Government - are in State hands.
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"I believe that Hammersons difficulties offer this government the opportunity to do what previous Fianna Fáil and Fine Gael governments should have done years ago and purchase the remainder of the terrace.
"It is only then, with the consolidation of existing holdings, that serious planning of an appropriate significant historic and cultural quarter - reflective of its place in our history - can be progressed. Such a development, linked to the soon to be empty GPO, could properly showcase our revolutionary and inspirational past.
"The lanes of history of Moore Street must be preserved for the benefit of the Irish people for generations to come."
