The North Commuter Parkway Bridge is one step closer to beginning construction.

The final regulatory permits necessary to begin in-river construction have been received, the City of Saskatoon said in a news release.

"This is really what we've been waiting for," Dan Willems, director of major projects, said in the release. "Our contractor can now get into the river and start the foundation work for this vital piece of city infrastructure."

Before any in-river construction could start, regulatory permits were needed from a number of organizations and agencies, including the Department of Fisheries and Oceans, Transport Canada, the Saskatchewan Ministry of Environment, the Saskatchewan Water Security Agency and Meewasin Valley Authority.

Here is an artist's rendition of what Saskatoon's new North Commuter Parkway could look like. (City of Saskatoon)

The North Commuter Parkway is designed to ease traffic problems on Circle Drive and Attridge Drive. Right now, people who live in neighbourhoods like Evergreen and Silverspring are forced to use Circle Drive. The new bridge should divert traffic and reduce congestion.

Over the next three years the project's managing company, Graham Commuter Partners, will be working with the city to design, build, finance, and operate the parkway.

The North Commuter Parkway Bridge is included with the new Traffic Bridge as part of the Bridging to Tomorrow project.

The company will build the new bridges and maintain them for the next 30 years under a public-private partnership (P3).

The federal government will pay up to 25 per cent of eligible costs while the province will contribute $50 million to the project.