Winnipeg city councillors have approved a $155 million project that will see the intersection of Waverley Street at the CN Main line replaced with an underpass.

Approximately 30,000 vehicles and 40 trains use the intersection of a CN railway and Waverley Street every day, a city report found.

Mayor Brian Bowman tweeted his approval of council's vote Wednesday afternoon.

The government of Canada and the provincial government have each pledged to contribute $45.8 million to the project, amounting to one-third of eligible costs.

The City of Winnipeg must still negotiate with CN on how much the company would pay for the completion of the underpass.