The authorised vehicle parking would convert to public parking in the evenings.
Five new 30-minute public parking spots and a parking space for disabled drivers would be created to replace the six spots taken by the new bus parking area, along with three dedicated taxi parking spaces.
Dedicated goods vehicle parking spaces and loading zones would cater to local businesses and wharf users.
Spaces closest to the foot of the wharf would be staggered to get rid of a pedestrian pinch-point currently impeding access.
Mr Penny said drop-offs and pick-ups would still be possible during construction but use of the carpark would be limited.
Signs would direct drivers to the main carpark off Williams Rd.