The $16 million plan to upgrade a major pain point for Lake Macquarie drivers is now open for community feedback.

The Speers Point roundabout that connects Five Islands Road, TC Frith Avenue, and The Esplanade has long been a traffic nightmare for motorists.

The concept design includes new dedicated turning lanes, roundabout metering with traffic lights during peak times, and improved safety for all road users.

Government traffic modelling shows the proposed upgrades could slash travel times by more than 50 per cent during morning and evening peaks and by 25 per cent during Saturday peak times.

The initial $11 million in state funding was brought up to $16 million from additional funds announced in this year's state budget.

The concept design includes refinements from community consultations in 2024 such as roundabout metering and extended turning lanes.

The additions were based on 59 submissions and 531 community pins on an interactive map.

Minister for Roads Jenny Aitchison said the roundabout had been a daily frustration for thousands of motorists.

"We're not just talking about fixing it, we're delivering a solution," she said.

"This $16 million investment will slash travel times by more than half during peak periods."

Member for Lake Macquarie Greg Piper said the change was about giving people their time back.

"These improvements will make a real difference to thousands of families trying to get to work, school and appointments," Mr Piper said.

Lake Macquarie mayor Adam Shultz said the council looked forward to the long overdue investment in the region's transport infrastructure.

"Infrastructure investment such as this is essential for keeping our community connected and moving efficiently, particularly in parts of our city seeing rapid residential and commercial growth," he said.

To have your say go to www.haveyoursay.nsw.gov.au/speers-point, email [email protected] or mail Speers Point transport improvements project team, Transport for NSW, Locked Bag 30, Newcastle NSW 2300.