Was so called from the old Limestone Railway, with which it ran parallel. Thomas Vemer who had the distinction of being the last Sovereign of Belfast under the old regime, was also receiver of rents for the Marquis of Donegall, He acquired from the Marquis quarrying rights on the Cavehill, and had a principal share in the promotion of the Limestone Railway for the purpose of carrying the quarried stone down to the quays. The concern was a success for a time, then dwindled away, and lay for years in a derelict condition. Finally the track was filled up and levelled in 1924. (John J. Marshall - Origin of Some of Belfast's Street-Names, p. 18) .
Lime was and still is important as an agricultural fertiliser and for construction, e.g. to make cement.
“Read Memorial from the occupiers of all houses in the streets known as Limestone Street requesting this committee to incorporate that street in Limestone road and renumber the property in a continuous line on Limestone Road. Resolved that the application be granted”. (20th September 1949). Limestone Road had previously in part been called Alexandra Road.