The district along the street, when the street opened, was initially called 'Korikimachi' but came to be called 'Kiyamachi' after it was lined with many lumber warehouses which stored lumber carried by ships called Takasebune.
開通当時は、「樵木町」（こりきまち）と呼ばれていたが、高瀬舟が運んでくる材木の倉庫が立ち並ぶようになったため、いつしか「木屋町」という名称に変わったという。