During 2021, the City of Novi Sad carried out the work on the realization of the 1st phase of regulation of the city core of Novi Sad, which included the Theatre Square, Uspenska Street and a part of the passage between the Serbian National Theatre and Shopping Centre "Apolo". The total value of the works amounts to 396.5 million dinars.

The works were carried out on the ground level and horticultural landscaping, reconstruction of complete underground installations, construction of public and decorative lighting and installation of urban furniture.

The area of the Theatre Square, as a ground level (parterre) area intended primarily for pedestrians, is paved with granite slabs in three discreetly toned shades. On the area facing Uspenska Street, there is an ambient unit with a shallow water mirror, a fountain, a seating area and planters with decorative bushes.

The "Memorial strip" which represents the memory of the former small Jewish Street that existed here in the 70s of the last century represents a special symbol of this space. The strip is made of corten steel, 40 cm wide and about 160 m in total length rising towards Mihajla Pupin Boulevard in the form of an information column.

In the space between the Serbian National Theatre and the "Apollo" Centre, the sycamore tree was kept as a central element around which the new ground level (parterre) arrangement and urban equipment were realized.

In the spirit of the 21st century, following the example of large European cities, the city centre has been completed with the installation of telecommunication equipment, which refers to video surveillance, sound system and digital signage. Digital signage includes a totem pole with an interactive map of the city, a digital board outside the Serbian National Theatre for publishing the theatre's repertoire, a device with an LED screen for displaying the time and date on the information pole and two displays within the BUS stop.

The preparation of technical documentation for the development of the remaining part of the city core of Novi Sad, the contracted value of which amounts to 22.4 million dinars, is in progress. The Construction Land Development Programme for the year 2023 provided funds for the Regulation of the City Core - 2nd phase in the amount of 760.5 million dinars.