As it was prolongued on both sides, it became the direct, and shortest, connection between downtown and Savamala, on the bank of the Sava river.

In the 19th century, Balkanska was famous for its artisan shops: tailors, waxers, opančari, quilters.

At the top of the street one of the first fast-food facilities in Belgrade was open, "Leskovčanin", which used to sell Leskovačka pljeskavica.

[9] In April 2018 it was announced that the small shops in the street will be reconstructed, the façades will be renovated and those which are empty will be offered to the artisans from other parts of the city.

[2] The upper section of the street remained unreconstructed and by 2020 city went silent on refurbishment of the façades or creation of the vintage zone.

[3] In January 2021 city administration reiterated intentions of restoring artisan shops, stating they can't find old trades craftsmen.

It connects central city plateau, located on the top of Terazije ridge, with the Sava bank and Savamala neighborhood.

In the latest decades that changed, though, as none of the public transportation lines go through the Balkanska due to its narrowness.

[7] Most of the buildings in Balkanska originate from the 1920s and 1930s, with beautiful façades which are mostly in bad shape due to the lack of maintenance.

[7] During the bombing of Belgrade in World War II, a block of buildings in the upper section of the street, below the Hotel Moskva, was demolished.

When reconstruction of the street began in the late 2010s, and with constant announcements by the city regarding the proper arrangement of the Terazijska Terasa which will open view from lower, river neighborhoods to Terazije and top of the Balkanska Street, citizens proposed the complete rebuilding of the demolished edifices.

One spectator was killed (Savo Čučurević) and over 80 were injured, including a student Magdalena Novaković, who got both of her legs amputated.