Staff at Akiba, a new restaurant and bar nearby, said the project

Michael Thompson, an office worker in the city, welcomed the aim of reducing car traffic on the busy city street, through reducing the speed limit to 20km/h. But, thus far he is underwhelmed by the project.

"It took longer than it should have," he said.

Sam Barton and Clinton Madden, two ANU students who frequently cycle on Bunda Street, have praised the aim of moving cyclists off the footpath, where they currently have to try to avoid pedestrians.

Territory and Municipal Services Minister Shane Rattenbury stressed the commercial and economic benefits of the new shared zone.

"We can expect a more commercial environment," he said.

"Bunda Street will evolve."

Mr Rattenbury was also happy the first stage of the project was "cleaned up before Christmas" with the second stage kicking off in mid-January.

No complaints regarding construction hampering trade had been received by the minister's office.

"Surrounding cafés have continued to be well patronised," he said. However, Mr Rattenbury admitted he had heard about some concerns.

City traders said in October the government's decision to close off Bunda Street for renovations in the middle of spring "doesn't make sense", as Canberrans head to the city to take advantage of the warm weather.

Project director Ben McHugh said the project's main aims were "to make Bunda Street safer for pedestrians and less dominated by cars".

Two red rickshaws will now carry passengers up and down Bunda Street and pamphlets are being handed out to inform Bunda Street users of the changed traffic conditions.

The opening of the first stage marks the completion of the first two redeveloped Bunda Street intersections.

Stage two will begin in mid-January on the remaining two intersections, and these are expected to be finished by April.