The party, which aims to celebrate culture and community, was the brainchild of Denise Lovato, CEO of Viva La Vida Events, and Rachelle Hunt of Heart and Soul Gallery.
Planning of the event began in December 2018, inspired by Hunt's vision to bring life to New Regent Street, joined with Lovato's enthusiasm for Spanish and Latino culture.
"Around the world, mardi gras are thrown typically both in summer and winter, so it's normal
for it to be a winter event as it gives people an opportunity to come outside; with a whole lot
of people there will be warmth," Hunt said.
The architectural style of venue made it the ideal location to host the festivities as Lovato said it was the "only Spanish street" in the city to complement the Latin theme.
Party-goers will be able to find a "giant paella" and South American cocktails available for purchase amongst participating restaurants to move their operations onto the street.
Special guests from around the country and local performers will be showcasing live music and dancing from 8 until 11.30, with Casa Publica to host the after party until 3am.
An entry fee of $10 and a no-bag policy will apply.