The days are numbered for Victoria's iconic Johnson Street Bridge after city council voted to replace the big blue structure at the north end of the Inner Harbour.

The bridge was built in 1924 to connect downtown with Esquimalt, and is reportedly one of only two counterweight bridges left in the world. The counterweight design allows the bridge to rise so taller ships may sail beneath it.

But despite its historic value, Victoria councillors voted against restoring it on Thursday.

The council does not yet have cost estimates for a new bridge and does not know if provincial or federal governments would help pay for it, but councillors said it would have safer bike and pedestrian lanes, and safer roads leading to it.

Mayor Dean Fortin admitted council's decision could be reversed and the old bridge, which sits opposite the legislature, could still be renovated. But he says it's important to demonstrate in which direction the city is headed.

Only Councillor Geoff Young voted against the motion, saying it was too early to choose one option over another.

Downtown Victoria Business Association general manager Ken Kelly said association members are pleased because the old bridge would remain open during the construction of a new one.

"The most important thing is the new crossing allows us the opportunity to keep that traffic flow open with the existing structure. It's imperative," Kelly said on Thursday.

Keeping the old bridge open during construction would avoid what Kelly called the "Cambie Street fiasco," referring to the construction of the new CanadaLine rapid transit route in Vancouver, which led to the bankruptcy of several merchants.