The Metropolitan Transportation Authority will spend nearly $236 million to replace the upper level roadway of the Verrazano-Narrows Bridge and create the authority's first reversible HOV lane.
This new lane will connect with HOV lanes that lead up to both ends of the bridge.
The project will also include a new drainage system, steel signs and LED lighting.
The bridge, which was originally built in the 1960s, will remain open to traffic on its upper level while the new roadway is installed.
Work will begin next year and is expected to be completed by 2017.