The Government unveiled a 30-year plan for a new Christchurch transport network on Wednesday afternoon.
Canterbury Earthquake Recovery Minister Gerry Brownlee made the announcement.
Streets will be prioritised for various modes of transport - vehicle, cycling, public transport or pedestrian - in a bid to manage competing demands on limited road space.
Mr Brownlee says that allows different forms of transport travelling on different routes to access the central city.
Streets with multiple main bus routes, for example, will be prioritised for buses and other vehicles encouraged on to so-called distributor streets.
The speed limit will be lowered to 30km/h in the heart of the city and most of the one-way network, except Kilmore and Salisbury streets, will be retained.
Mr Brownlee says the first phase of the project will cost about $72 million - to be shared between the council and the New Zealand Transport Agency.
The Government says it aims to develop a transport system that meets the changed needs of people and businesses, and one that incorporates sustainable and safe travel choices.