The remodelling of the area as part of the University of Central Lancashire's masterplan has caused major disruption to businesses for many months.
Now major roads have been reopened, giving ease of access to shops and eateries already battered by a lockdown and coronavirus restrictions.
Friargate, Moor Lane and a new road replacing the Adelphi roundabout have now fully reopened to traffic
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Margaret Mason, who runs a thriving florists in Friargate, said she had been running her business temporarily from her other premises in Freckleton because of the disruption and coronavirus restrictions.
She was now looking forward to returning to the city.
Margaret said: "The roads were causing us a lot of problems.
"I am pleased the road is now open again - a lady phoned me and said she had just seen a bus go down there. She was really excited.
"We will certainly be back in Preston - I've been here nearly 60 years. I'm not going to stop now."
Bernice Newton of the Town House Coffee and Brew Bar on Friargate said the reopening of the roads was welcome but may not have an immediate impact.
She said trade was unpredictable because of the coronavirus restrictions and many people working from home.
She said: "Not everybody knows that it is open yet. I think it's going to be a slow burner.
"I think it will be a few weeks before we see people coming back into the city centre for their shopping.
"Hopefully we will see the benefits then."
Mark Whittle, manager of Preston City Centre Business Improvement District, said: "We're pleased to see Friargate re-opened after a lengthy period of closure.
" It has been a challenging time for businesses in that area, we hope that, as the works head towards more phased completion, people will take a wander down Friargate to see the results of the Universities project and support the businesses located there".
The University of Central Lancashire and Lancashire County Council said: "The new layout on the site of the old Adelphi roundabout will provide a welcoming, inclusive and safe environment for all.
"Despite the challenges faced by the ongoing pandemic, the University's construction partner Balfour Beatty has made great progress and it is good to see the new road scheme now in use.
"Like any road scheme, safety has been a priority when considering the design and layout, and the widened pavements, defined kerbs and use of different material for road use, makes the space easy to navigate for all users.
"The use of a similar design and materials along Fishergate saw a reduction in accidents.
"In addition, to aid pedestrian safety, the scheme incorporates an increased number of courtesy crossings, as well as an increased number of controlled crossing points."
They added: "Following the opening of the road last weekend, users have adapted well to the new layout but works are still ongoing.
"The completion of the highways project in 2021 will enable the University’s vision for its Student Centre and Square to be realised as an important public asset that embraces the city scale, and positively contributes to the ongoing regeneration of Preston."