Mayor Bill Haslam and others will participate in the ceremony.
After more than a year of construction the project to replace the existing street and replace and widen the sidewalks on the 100 and 200 Blocks of Gay Street in addition to utility improvements is nearing completion.
The project also included the first-ever renovation of the near century-old underground support structure suspending the 100 Block above the original street.
The new sidewalks are virtually finished. The street was originally slated to be opened on July 19, but recent inspections have revealed some issues at different locations on the street that need to be corrected before the project ends.
The contractor will also be doing some detail work after July 19, on the streetscape including the planting of trees this fall and some additional landscaping.
The project was originally scheduled for completion in August.