Construction of a new bridge crossing the Willamette River will begin on July 1st. The new bridge will be a transit/pedestrian bridge that will be used for a new light rail line connecting Downtown Portland with the suburb of Milwaukie. Several bus lines that currently use the Ross Island Bridge will be switched over to the new bridge when completed.
http://www.oregon.gov/OSMB/access/images/TriMetBridgeRendering.JPG
More information about the bridge can be found on the Tri Met web site.
http://trimet.org/pm/construction/bridge.htm

How much would that roughly cost?

How much would that roughly cost?

134 Million $$$ , which is cheap considering how high tech and the fact it needs to be earthquake proof.