Community leaders fear Moseley's "ambience" is under threat after a third major chain in as many months revealed plans for a new restaurant.
Pizza Express is set to open on Alcester Road after proposals to convert retail units into a restaurant were brought forward.
David Isgrove, vice chairman of community group The Moseley Forum, said the suburb had been deluged with interest since being named the best place to live in Britain by the Sunday Times.
He said: "This is the last remaining Edwardian shopping centre left in Birmingham and we have always strived to maintain its ambience. We don't want Moseley to just become another homogenous suburb."
Pizza Express has applied for a license for the new restaurant despite objections from The Moseley Society.
The Moseley Supplementary Planning Document, published in 2013, outlines a vision for the village to be a "vibrant independent local centre - a real alternative to the national chains that dominate the rest of the city".
However, it has not stopped planners from giving the green light to a series of chains.
Boston Tea Party's plans for a new restaurant were revealed in September and Costa Coffee was given the go ahead before Christmas.
Keith Marsden, who runs the popular Prince of Wales pub, reacted by launching a "Keep Moseley Special" campaign.
Mr Isgrove said he was also concerned about a rising tide of stores being changed to cafés and restaurants.
He said: "Moseley will survive but this just dilutes its character and therefore we would much prefer not to have another chain.
"We have a vibrant evening economy but we don't want to keep losing the retail we have."
Nobody from Pizza Express was available to comment.