And residents are being asked to take part in a public consultation in order to give their views on the plans, which have been drawn up by Warwickshire County Council in response to a number of cyclists and pedestrians being in collision with vehicles in the road - the town's main through-route and shopping street - over the years.
Both proposals are designed to provide safer and more visual crossing points to encourage pedestrian usage of existing controlled crossing points rather than crossing from unsafe locations.
There has been a generally supportive response to the proposals from residents and businesses in the town.
Kenilworth mayor Cllr Richard Dickson said: "Speaking as a local councillor, firstly I'm keen that as many residents and businesses across Kenilworth respond to the consultation and tell the county council what they think of their plans.
"That's why local Liberal Democrats have now delivered more than 1,000 letters to local residents and businesses to help ensure they're aware of the county council's plans.
"Secondly, based on the number of blue light incidents on Warwick Road in recent years, pedestrian safety is an issue requiring action. However, there's a perfectly understandable concern from residents about the possible impact of displaced traffic (often guided by satnavs) on to side roads - through residential areas on both sides of Warwick Road past schools, nurseries and a day centre - but this does not appear to be modelled in the plans.
"There seems a good case for extending the 20mph limit to these areas and not just limiting it to Warwick Road.
Objections or letters of support for the proposals and representations must be sent to the county council by Friday April 9.