The bridge would stay but be open to pedestrians and bicycles only. As council is soon to put its 3-Year Plan out for consultation, the impact could be as early as July this year.
There is a 30km/h speed restriction currently on the wooden bridge and heavy traffic is barred from using it.
Replacing the bridge was budgeted for 2017-18 at a cost of $1.8 million. About $280,000 of that figure was to cover the investigation, design and tender stages from 2015 onward.
Council's roading engineers said a much cheaper option was bypassing the bridge and rerouting through traffic along Eastown Rd.
The detour adds 540m - or less than a minute - to the journey. Currently 1400 vehicles a day cross the bridge.
A new bridge would not get any NZTA subsidy because alternative routes are available.
If the council opts to close the bridge it would still have to spend $50,000 to upgrade the Holyoake St-Eastown Rd intersection and put bollards on the bridge.
Engineers said banning motor vehicles from the bridge had another plus - it stopped the Wakefield St area being used as a "boy racer" circuit.
The obvious downside is the slightly longer travel time for No3 Line residents and the increased traffic volumes on the bypass route.