Work on the distinctive new bridge over the River Aire - one of the centerpieces of the Castleford Project - will begin in spring.
And the S shaped bridge - designed by McDowell Benedetti - should be complete and in use by December.
The £4.8 million project is funded by Wakefield Council (£1.4m), Yorkshire Forward (£1.4m) and English Partnerships (£2m). Costain Ltd has been appointed to design and construct the bridge.
Cllr Peter Box, the leader of Wakefield Council, said: "This is real progress on one of the landmark schemes in the Castleford Project, and I am pleased that we now have a start date for the construction. The bridge we will get delivers the original design concept created by Renato."
Rob Pearson, English Partnership's Area Director for Yorkshire, said: "This announcement is excellent news; the bridge means that new and existing homes in Castleford will be linked to the town centre in a sustainable way and it complements totally the significant investments we are already making in the former coalfield sites that surround the town."
Bill Lomas, Regional Manager for Costain Limited said: "Costain is pleased to be associated with such a prestigious project and this reinforces our commitment to the area where our Yorkshire Water business office has been located for over six years. We look forward to working with the delivery team, scheme sponsors and the architect to build this new footbridge."
Barra MacRuairi, Head of Renaissance Towns and Cities for Yorkshire Forward said: "This bridge provides physical evidence of the renaissance of Castleford, and will provide a focal point for visitors and local people. It also demonstrates what can be achieved when people work as a team to attain a common goal."
Alison Drake, community champion for the project, said: "The team is delighted that the distinctive bridge we are going to get is the one that was supported by the town centre team."
Renato Benedetti of McDowell+Benedetti architects said: "This is a great start to the new year for Castleford and we're delighted for Wakefield Council and community champions Wendy Rayner and Alison Drake, that our bridge design will be built as the first part of our waterfront regeneration masterplan. We're pleased to have been involved in Costain's selection and look forward to working closely with them and Wakefield throughout construction to ensure the high design quality is achieved."
Ralph Lee, Channel 4 Commissioning Editor, said: "This is great news for Castleford. Right from the start, a new, beautifully designed river crossing was top of the local people's agenda. Congratulations to all who have supported its design and development, and all who have enabled a scheme that will have a major impact upon the town and its quality of life, and reveal to people living and visiting Castleford the quality and excitement of its attractive and historic natural environment."
Work on the site is expected to begin in April 2007, with the bridge taking shape by September. It is expected that the bridge will be in use in December.
The bridge is the most ambitious of the 11 schemes which make up the Castleford Project - a collaboration between Wakefield Council, Channel 4, regeneration agencies and the local community.
Progress towards the achievement of this group of community improvement schemes is being filmed for a major Channel 4 series presented by Kevin McCloud. It will be the world's first televised regeneration project.