Trent Basin is now the likely location of a new £9.2m pedestrian and cycle bridge across the River Trent.
Planning applications will be submitted in the new year before the bridge is finally open to the public in Spring 2023.
Nottingham City Council had previously identified three potential sites for the bridge, which will make it easier for walkers and cyclists to access places such as Colwick Park from the south side of the river.
It will also be used as a walkway for those attending Nottingham Forest games and create better links between West Bridgford and the city centre.
The structure will be the first new bridge over the River Trent since Clifton Bridge opened in 1958.
The three sites that had been identified were Poulton Drive, Trent Basin and Trent Lane.
But Cllr Rosemary Healy (Lab), portfolio holder for highways and transport told the Local Democracy Reporting Service the other two options had been “discounted” and Trent Basin was now the likely site for the new bridge.
It will now go out to public consultation until November 28, before planning applications are submitted.
The boundary between the city council and Rushcliffe borough runs along the centre of the river, so a joint application will needed.
The project will be funded by the Government’s Transforming Cities Fund.
The preferred option would see the bridge land on old industrial land near the Trent Basin housing development on one side and near the Trent Fields on the other, which backs onto The Hook in Lady Bay.
There will also be ‘amphitheatre-style’ seating and a bench area so people can look out over the river.
Planners say it will complement the other four other Nottingham bridges already built – Wilford Toll Bridge, the Suspension Bridge, Trent Bridge and Lady Bay Bridge.
It is part of wider plans to improve cycle paths on Daleside Road, as well as around West Bridgford and Colwick Park.
Cllr Healy said: “We have discounted the other two options because the Trent Basin route is more cost effective, and it is less impactful on green spaces on the southside. We are looking at the new year to submit a planning application.
“The project will open up new walkways and cycling routes for leisure and commuting. It will also make it easy for people to use sustainable transport to alleviate traffic pressure in the city especially over the River Trent.”
Cllr Simon Robinson (Con), leader of Rushcliffe Borough Council, told the Local Democracy Reporting Service: “It is about opening up both sides of the river to access places like Holme Pierrepont and the Lady Bay Hook area.
“This is a large step forward and this will be a huge asset for Nottingham.”
If planning permission is approved work will begin in autumn 2022 and the bridge will be open by Spring 2023.