Grainger is weighing up whether to appeal the latest rejection of its seven-year bid to redevelop Wards Corner, N17.
Despite the proposal being recommended by planning officers, councillors at Haringey rejected it by five votes to four on Wednesday night.
The £70m scheme, first proposed in 2004, would see the Latin Market turned into 197 homes with 40,000 sq ft of shops and a 9,500 sq ft market.
Grainger said: “We are now considering all other options available to us.”