The city is planning to apply for up to $1 million in state transportation funding that would allow protected bicycle lanes and new landscaping along Broad Street.
The space for the improvements would come by decreasing the number of traffic lanes on Broad Street from six lanes to four lanes.
The project area is from MLK Boulevard to Aquarium Way (Second Street).
Officials said some potential bicycle users are deterred because they are fearful about sharing a roadway with nearby cars and trucks.
The current six lanes on Broad Street carry about 8,000 vehicles per day, but have the capacity to carry 36,000 vehicles, it was stated.
That means a "re-sizing" could be carried out that would give the space needed for the protected bike lanes and landscaping, officials said.
City officials cited a number of positive effects of increased bike ridership, including improving health and reducing vehicle emissions.
If the grant is secured, the city's portion would be five percent of the cost.