The route is a major connector between the Southern and Eastern suburbs and South Brisbane.

In 2006, with the construction of the Queensland Gallery of Modern Art, the section of road still named Stanley street which tunneled under the Queensland Art Gallery was renamed Cultural Centre Tunnel and the road to the north was removed to make way for construction.

Of the old Stanley Street in South Brisbane, only a section about 100 m long, running alongside the Queensland Maritime Museum remains.

The remainder has been built over by the Gallery of Modern Art and South Bank Parklands, rebuilt as a pedestrian plaza as part of the Parklands (Stanley Street Plaza and the Cultural Forecourt); or renamed.

The development of Woolloongabba railway station plans to strengthen Stanley Street's importance as a major connection between the CBD and southern suburbs.