A new report at city hall says construction could start on a replacement by 2020. The current bridge is over 100 years old and the engineers have known for years it needs to come down soon.
Early cost estimates are pegged at around $300 million but that number is likely to rise.
The new bridge would be three lanes and include bike paths and sidewalks.
City council would still need to approve a final plan before construction could start.
The report says a second crossing in the area will be needed as our population continues to grow.
It cites options including widening the McPhillips underpass or adding a crossing between McGregor Street near the CPR Rail Yards and Sherbrook Street, to the south.