>Or you completely remove that single one way lane, and good bye resupplies for the shops/restaurants and good luck to those poor folks that will move in/away.

This is not true - we have streets that have been converted to be fully pedestrian+bicycle, and resupplies/moving in is not really an issue because these vehicles get exceptions. The sign combination 'Motor traffic forbidden / Exception for authorized vehicles' is pretty damn common in my European city.