The bridge, built 90 years ago, connects Little Rock and North Little Rock. Although the bridge is not a safety risk, engineers who conducted a study of the structure have determined it is deteriorating and needs to be replaced.
The Arkansas Highway and Transportation Department expects to hold a public hearing on the new design plans in late winter or early spring.
The new bridge will consist of five traffic lanes and a pedestrian walkway.
Construction could last as long as two years.