Edward Street to be cut to three lanes in Brisbane City Council budget

A major Brisbane CBD street will lose a traffic lane to allow for wider footpaths in a three-year $11 million plan to upgrade the Edward Street shopping precinct.

In a new funding commitment, to be handed down in next week's 2015-16 Brisbane City Council budget, Lord Mayor Graham Quirk will also allocate money to expand the council Suburban Centre Improvement Project scheme to Alderley and Graceville.

Concept art for Brisbane City Council's Edward Street revitalisation project.Credit: Brisbane City Council

Cr Quirk said the Edward Street upgrade, which would be allocated $1.9 million in the 2015-16 financial year, would turn it into a "showcase street" that would complement the area's growing retail precinct.

"The Edward Street precinct in the CBD has established itself as Brisbane's home for international luxury brands such as Louis Vuitton, Tiffany & Co, Georg Jensen, Rhodes & Beckett and Oroton to name but a few," he said.

Work on the $11 million Edward Street project will begin in the 2015-16 financial year.Credit: Brisbane City Council

"Brisbane's CBD retail sector is an established, prosperous precinct for both local and international retailers.

"We will support this investment by transforming Edward Street with broad footpaths and tree-lined streets to make it a showcase retail destination for residents and visitors alike."

Cr Quirk said Edward Street would be reduced to three traffic lanes between the Queen Street Mall and the Charlotte Street intersection.

"Council will work with Edward Street traders, owners and the precinct management group to ensure we get the best possible outcome for residents and visitors to this exciting area of the city," he said.

Although concept art for the upgrade did not include traffic lights there were no plans for their removal, a spokesman for the Lord Mayor said.

Cr Quirk said the two new SCIPs were just as important as inner-city improvements.

"Suburban centres all throughout Brisbane are a hub for communities, where small businesses are run, where we meet for coffee with family and friends and where we source the essentials for breakfast, lunch and dinner," he said.

Cr Quirk said construction of the $5.3 million Alderley SCIP, on the corner of Samford and South Pine roads, would begin next month and would also receive funding from the owners of the adjoining Alderley shopping centre.

The $3.75 million Graceville SCIP would run along Honour Avenue.

"I'm also providing over $1.2 million per year on an ongoing basis to refresh existing older SCIPS to keep them looking fresh and inviting," Cr Quirk said.

"SCIPs across Brisbane contribute to the community and commercial vitality of suburban shopping precincts and encourage additional private investment into these centres.

"Importantly, SCIPs are essential for local businesses too as they help maintain the confidence of existing operators and encourage new investment into each area, so I've also allocated $700,000 for future planning."

Cr Quirk will hand down his 2015-16 council budget at City Hall on Wednesday.