One of the elements of the Central City Mobility Project is the conversion of 5th Street from a one-way, two-lane street, to a two-way, one-lane each direction street. Some work is underway: wiring and signal bases have been installed for the signals necessary for two way traffic at the existing signal locations. Looking at the bases, photo below, I’m guessing that there will be new signal poles and mast arms, not re-use of the existing signals equipment. That seems like a waste of money to me, but the city loves to spend money on new signals, and signal controllers.
I am not sure that many of the current signal locations are even needed. After the conversion, 5th Street will be a lower speed and probably lower volume street. Four-way stops at some major cross streets (such as T Street) might work just fine. Again, the city loves to spend money on signals, and already has unneeded signals at a number of locations (too many traffic signals?).

The Central City Mobility Project map shows the 5th Street conversion as extending from Broadway to I Street. The block between Broadway and X Street is already two-way, as are the two blocks between L Street and J Street (the DOCO underpass). It is also two-way north of I Street.
I wonder what, if anything, will be done for the block between X Street and W Street, under the Hwy 50 freeway. This is a very complex block, with a freeway onramp west of 5th Street and a freeway offramp west of 5th Street. The onramp and off-ramp have separate signal phases from X Street and W Street. Traffic westbound onto the ramp, if it makes the green light, is already traveling at freeway speeds, about 65 mph as it crosses 5th Street. Similarly, but not as egregious, the off-ramp traffic, if it makes the green light, is traveling a bit below freeway speeds. I am really not sure how this complex situation can be made safe for bicyclists. Northbound bicyclists only have to deal with drivers running the red light at 5th Street from W Street, but southbound bicyclists would have to deal with multiple turning vehicle movements. In general, the only way to make complex situations like this safe is to have exclusive bicycle phases in which only bicyclists and walkers are moving, no vehicle movement or turns are permitted. But the city is very unlikely to select that safe alternative because it would lengthen the signal cycles and therefore slow motor vehicle traffic to some degree. The city doesn’t want to slow motor vehicle traffic.
The diagram below, from Google Maps, indicates the complexity of this block, but the reality on the ground is even worse.
