The work is part of the Conservation Area Regeneration Scheme (CARS) project in the town.
The refurbishment works carried out has seen the wall of the site repaired and restored to its original condition. It included stripping off layers of white masonry paint, repointing and indenting new stone and replacing some of the coping stones.
The work has been carried out over the summer during which time Adam Smith Close was shut.
The close leads from 222/224 High Street to 20 The Esplanade and forms one of the most important links to the sea front. It will form the way to one of the main entrances of the new centre for the Adam Smith Global Foundation building, which will be situated at 20 The Esplanade.
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A second phase of works is scheduled for 2014, which will include a timeline formed from hand carved lines and images based on the life of Adam Smith. It will be lit by discrete motion activated uplighters.
Councillor Neil Crooks, Chair of Kirkcaldy Area Committee said: "This is an important stage in the work of the Global Adam Smith Foundation, one of our key partners delivering our town centre action plan. Discussions are well advanced on creating a new town centre experience with heritage, housing, art and culture mixing with the retail and night-time economy.
"This is the first phase of this work, which is funded by Historic Scotland as part of a wider £1m initiative to improve the town's historic town centre and build the links to our famous son Adam Smith."
The Adam Smith Close will close again on 9 September when external repairs begin to the adjacent building at 20 The Esplanade.
(JP/MH)
