An extension of approximately a third of a mile is expected to open by the end of 2014. The road was paid for by a partnership that developed the City Walk apartment complex. The City of Charlottesville contributed $365,000 to pay for street trees, bike lanes, and sidewalks. 
In the spring of 2011, the street will receive shared lane markings, or "sharrows" indicating bicycles are are using a shared lane with motor vehicles. The marking is being done in lieu of adding bike lanes, which would require on-street parking to be removed on at least one side of the street. 
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- Web. Water Street Extended to open by year’s end, Sean Tubbs, Charlottesville Tomorrow, September 28, 2014, retrieved September 29, 2014.
- Web. Charlottesville Plans to Install Sharrows This Spring, NBC 29 News, March 23, 2011, retrieved March 28, 2011.