Revised proposals now include greater public realm provision outside St Mary’s Cathedral, which would allow the much-loved Paolozzi statues to return to their current position once works in the area are complete.

Other improvements include more footway space and a reduction in potential conflicts between pedestrians and cyclists at key points of the junction.

The changes reflect feedback received during the most recent phase of the engagement process, which continues next week with two further drop-in sessions.

Members of the public will be able to view and comment on the latest proposals on Tuesday (21 November, 10am–7pm) in the City Art Centre and on Wednesday (3pm–7pm) in Broughton St Mary’s Parish Church. Officers will be on hand to explain how the road design has evolved, discuss the ideas and comments made to date and seek views from the public on how the design could be improved.

The public’s views will also be sought on potential uses for the piece of land at the top of Leith Walk, where the roundabout currently sits.

The revised proposals are also available to view on the City of Edinburgh Council’s Consultation Hub, where members of the public will be able to have their say until 15 December. Feedback will be used to inform the final designs, which are expected to be discussed by the transport and environment committee in the New Year.

Transport and environment convener, Councillor Lesley Macinnes, said: “Having allowed more time for public engagement, I am pleased that we have been able to accommodate further design changes based on the valuable feedback received to date.

“The desire for more public space, in particular, has come across loud and clear and the latest designs clearly reflect this.

“Of course, there is still more time for people to have their say and I would encourage everyone with an interest in the proposals to either attend one of the events or have their say online.

“Comments and ideas gathered will help us to create a final design that best meets the needs of all, benefiting pedestrians and cyclists while enabling the smooth flow of public transport to and from the city.

“We have demonstrated through this process a willingness to listen and to take new ideas on board where possible and we will do so again.”

George Lowder, chief executive, Transport for Edinburgh, added: “Picardy Place is a crucial city centre hub for public transport with tens of thousands of people travelling through the junction by bus each and every day.

“With an ever-growing population and pressure on the network to increase still further, the challenge for us is to find the best balance between all forms of public transport, active travel and other vehicles. We believe that these latest proposals would go a long way to delivering this.”

The designs, which have evolved significantly since first principles were agreed in 2009, aim to improve safety for pedestrians and cyclists while facilitating public transport, in addition to future proofing the area for extending the tram to Newhaven, if approved next year.