A short stretch of Carrington Street will close to vehicles for good from this Monday.
The road is currently one-way, and can only be used by buses travelling from Canal Street to Collin Street.
But from 6am on Monday, April 15, it will be pedestrianised completely.
Buses coming from the direction of the train station will have to turn left onto Canal Street and go round Greyfriar Gate, before turning again onto Collin Street.
The closure is to allow for preparatory work to be done for the Broadmarsh bus station, the shopping centre, and the ongoing heritage work on Carrington Street.
It is the first closure in part of a wider scheme, which will eventually see Collin Street pedestrianised, and most of Canal Street closed to private cars.
It is hoped the new Collin Street will provide traffic-free access between the yet-to-be-built bus station and the refurbished Intu shopping centre.
Susan Dyre, who has been the receptionist at Eyecatchers Opticians in Carrington Street for 14 years, believes the development of the area will boost business.
Ms Dyre said the opticians has been open for around 20 years or more, and it has recently undergone a facelift.
The 57-year-old said: "I think it will definitely bring the trade in when it is done. We've had people peeping in since we've had the new windows and opened up the front of the store.
"I think the boss will agree it will bring in the business. He says there might be a new coffee shop and a gym along here.
"It is a good idea, I would say."
Ray and Janet Wilson, of Loughborough, used to work at the nearby HMRC building in Castle Meadow Business Park together, and hope the traffic issues caused by the closure of the road will pay off when it has been redeveloped.
Mr Wilson, 54, said: "It will create some traffic problems as the buses use this all the time. I hope there will be a good mix of shops and cafes to make it worth it.
"An outdoor street cafe would be really nice. It all depends on what shops and cafes there will be, the area must have something of interest as it needs some life injected into it."
Mrs Wilson, 58, added: "They have to do something with the traffic around here. It will cause some issues in the short-term, but the plan might attract more people as there is nothing along here, it's a bit dead."
Kevin and Lyne Kerry, of Stapleford, both 60 years old, said they hadn't been in the city centre since Christmas and have noticed a number of shop closures.
Mr Kerry said: "It's a good idea personally, if it's made for pedestrians. Buses come down here really fast sometimes, it makes it a bit funny around here with the buses coming through.
"There is nothing between Broadmarsh and the train station, and the city centre has changed a lot since we lats came at Christmas, lots of shops have shut.
"It will be good for the area in the end, anything to bring more business in."
A spokesman for the city council said: “The northern section of Carrington Street between Collin Street and Canal Street will close to traffic from Monday, April 15 as a series of works related to the Broadmarsh redevelopment programme are due to take place.
“This closure will require buses travelling towards the city centre to use Greyfriar Gate to reach Collin Street and Middle Hill. Pedestrians will still be able to walk along Carrington Street as usual.
“The Broadmarsh redevelopment works are progressing well and will be transformative for the city.
“Whilst they take place, every effort is being made to minimise the disruption to the public.”
Nottingham needs to get smart and offer its visitors something they can't get anywhere else
Derelict land next to Nottingham train station will be built on
