Eagle Street Pier would be transformed, with two new towers and more riverfront open space, under a six-year proposed redevelopment.

But existing restaurants Il Centro, Aria and Cha Cha Char will close, and face an uncertain future, with their buildings set to be demolished.

Dexus has proposed a redevelopment of Eagle Street Pier, including two new towers and up to 1.5 hectares of riverfront open space.

The plan, by developer Dexus, would also include permanently shutting Eagle Street, between Charlotte and Market streets.

Currently, 3000 pedestrians walk through Eagle Street daily and 30,000 people access the area via CityCats and ferries every week.