The traffic ban on Capel Street was welcomed by the vast majority but it still faces a number of "challenges" with a review due in weeks.
The launch of the longest pedestrianised street in Ireland was welcomed by Lord Mayor Alison Gilliland as a "big day" for the city which she said should be "celebrated".
And the vast majority of the public support the project as well with over 90% of respondents to one Dublin City Council supporting it.
Read more: 'Nightmare' Capel Street traffic ban divides businesses day before launch
However, Fine Gael Councillor Ray McAdam, who played a major role in the project, told Dublin Live the traffic diverted from the street will present "challenges".
Any issues that come to light as a result are set to be reviewed in mid-July where changes may be made.
Cllr McAdam is Chair of the Dublin City Council Central Area Committee which brought about the pedestrianisation.
He said: "This is a very significant day for Capel Street. When we started talking about this 14-12 months ago little did I think we would have a fully pedestrianised street from 11 o'clock today.
"This is going to present challenges but we can overcome them and also presents opportunities."
Bollards were put in at the top of Capel Street which blocks traffic coming from Parnell Street 24/7.
The significant amount of traffic that came down Capel Street will now go through the Church Street which may present problems.
Cllr McAdam said: "It's going to be the impact on traffic management in and around the Markets, North King Street, Church Street area and the Quays.
"These are things that we are going to have to look at. When the Council agreed to move ahead with this, they agreed to my request that we would review it after six weeks."
The Fine Gael Councillor, who has been a prominent advocate for the pedestrianisation, said the review will act as a means to deal with any potential "significant issues" like "blockages" before they become "a massive problem".
Cllr McAdam is keen to see his vision of "destination Capel Street" come to fruition.
He told Dublin Live at the launch of the traffic ban: "As we're standing here now and we look down the street, there's a significant space there. How do we make use of that space?
"And that's where we need to engage with the businesses - those who have concerns about the pedestrianisation of Capel Street but equally those in the hospitality sector.
"So, that we actually make sure that this becomes destination Capel Street. That we can attract visitors Dubliners and tourists alike into Capel Street."
"And now we have to talk about and discuss - what's the future vision for Capel Street."
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