The initiative is set to take place over 12 months and aims to create a more accessible, welcoming and attractive city centre area as part of wider efforts to revitalise the capital.
The main proposals will be considered by councillor's in a report to this week's Transport and Environment Committee include:
- Temporary extension of the footway of George Street and Princes Street
- Accommodation of a two-way cycle route on George Street
- Implementation of a one-way system for general traffic and buses in an east bound direction on George Street
- Implementation of a one-way system for buses, taxis and cycles in a west bound direction on Princes Street
- Minimising loss of parking spaces on George Street
A monitoring and evaluation group will be set up to oversee the 12 month trial. Evaluation will focus on footfall, passenger use and business revenue as well as satisfaction with the additional space.
The group will also regularly review the impact on residents, visitors, business and movement in and around the City Centre and assess the quality provided by different use of space.
Transport Convener Councillor Lesley Hinds said: "The consultation we did showed a clear desire for change but no obvious agreement about the best way forward. I would have been delighted if that was the case but we didn't get that.
"However, the status quo is simply not an option. We need to show leadership and create a vision for how the heart of Edinburgh will work in the future and this trial will help us to do that."
Planning Convener Councillor Ian Perry added: "One clear theme to emerge was that people supported the idea of both streets being more pedestrian-friendly. We also want to improve facilities for cyclists.
"The changes we're looking to make are temporary, don't involve any significant infrastructure works. I remember that opinion was split before we pedestrianised part of the High Street but that too was trialled and has been a great success."
A range of consultation methods were used over a six-week period to gather views from stakeholders and users. More than 2,000 people contributed to the process.
(JP)