Dublin Corporation has approved in principle plans reducing Westmoreland Street from five lanes of traffic to two and a reduction to one-lane traffic at the Bank of Ireland.
Chairman of Dublin Corporation's traffic and transport committee Councillor Mr Eamonn Ryan also said there should be an immediate ban on turning left from Westmoreland Street onto Aston Quay.
The turning is a notorious black spot where a cyclist died on Tuesday and another was killed in the summer.
The new plan is part of Dublin Corporation's traffic and transport policy. It includes the creation of two cycle-lanes, one a contra-flow lane running from O’Connell Bridge along Westmoreland Street to College Green.
A pedestrian traffic island, similar to the ones on O’Connell Bridge and College Green has also been planned for the street.
The plans, originally drawn up by Dutch consultants, are at the final design stage and are expected to be completed in six to eight months.
Cllr Ryan said the main problem is the number of heavy-goods vehicles in the the city centre. Most cycling accidents involve a truck.
Other plans being considered by the corporation include stopping trucks from leaving Dublin Port during rush hours and sending trucks out of the city in early-morning convoys.
