Alpha Street is the first street branching off Cambridge Street at the harbour end and was so named because of this. It was one of the earliest private streets, and was part of the two original Town Acres, 283 and 284. These were owned by Mr Lipman Levey who subdivided them in 1873.
It was declared to be a public street from January 1, 1888.
It was at one stage home to Depot Theatre and the Whitcombe and Tombes (Whitcoulls) business. The Cambridge Hotel remains on the corner of Alpha Street. It appears to have always had a mixture of residential and commercial properties since it was first formed.