Hayley Carruthers and Rita Mathis have organised the event, which will take place on June 5, for the residents of Eshton Road.
Mrs Carruthers said, “It has always been a friendly road.
“We recently had some newcomers and we thought it is not going to happen again [the Jubilee] and it is a good way for the new people up the road to get to know the people up the street.
“We have even got people who used to live on the street who are coming for the party.
“We are basically closing the road at 11am and decorating our front gardens.”
The event will run from 1pm–6pm.
Mrs Carruthers said they plan to start the day with a picnic followed by a raffle.
The neighbours said they are also having high tea and champagne.
Mrs Carruthers explained that the event is only for current and former Eshton Road residents.