It is unlikely to be happen due to the 'solutions' proposed in section 3.3.10 through to 3.3.13 (pg33). Which states that there is no will to implement any measures on this part of the thoroughfare by the incumbent landowners ─ any attempts to do so, have been thwarted for more than a century. The well heeled clientèle, do not particularly need a bohemian cafe culture at the doorstep nor do they care about pedestrians, especially when they arrive at the affluent hotels/hedge fund offices/ ballrooms/casinos, in their luxury automobiles to work & play. The addition of having access to exclusive shopping districts, restaurants, entertainment within spitting distance in any direction, further erodes any case for pedestrianisation.
However, there is a good case for lowering speed limit, modernising the subway access and creating more ways to cross between the central reservation, across to Hyde Park.