New Dublin City Council plans for a "traffic free" Capel Street will block all traffic from Parnell Street on a 24/7 basis.
The plans, which are subject to change and will go through consultation, are scheduled to be implemented in May later this year.
The Council trialled the pedestrianisation of Capel Street and Parliament Street last summer and it proved very popular among businesses, residents and the general public.
Deliveries will be made via side streets between the hours of 6am and 11am and access for the 2,200 residents in the area will have to be maintained at all hours.
An agreement will have to be reached with the Transport Infrastructure Ireland in regards to the Luas crossing on Abbey Street.
Traffic will continue to cross at Strand Street Little and Strand Street Great to allow access to a nearby construction site.
The report, entitled "Traffic Free Capel Street", sets out that the plan will be implemented by May. Before then, the proposals will be put out for public consultation in March and assessed in April.
The plan is subject to changes but a source told Dublin Live it should largely remain the same.
Surveys of local residents and business owners as well as the general public on the traffic free street were all overwhelmingly positive.
Over 90% of the public, more than 80% of business and 75% of residents responded that "it significantly improved my experience" to the survey.
The Chair of the Central Area Committee, where the report was presented, told Dublin Live it was a "welcome" move by Dublin City Council.
He said: "This is a very welcome development by Dublin City Council. I as Chair of the Central Area Committee will be engaging with businesses and local residents between now and the formal report coming to the Committee in March to gauge local feedback.
"So that we can implement this plan from May," he added.
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