Times Square, whose fiery neon signs and jumbo billboards make it the epitome of larger-than-life New York, is about to get a modern, minimalist sprucing up.

A $27 million redesign headed toward final approval by the city would transform the square’s raw, concrete pedestrian plazas into sleek silver-gray spaces populated by slablike benches and metallic tiles.

The plan, which would be completed in 2014, calls for both a futuristic, streamlined look and a noirish quality that evokes the square’s colorful and occasionally illicit past.

“Right now, we have a dumpy-looking plaza,” said Tim Tompkins, president of the Times Square Alliance, who is a consultant on the plan.