It looks like the site of the Ponte dell'Accademia, which is currently a wooden bridge. I'm not sure I like the idea of building a restaurant or something along the bridge. It'll block a lot of the views down the Grand Canal.
At least the Ponte Rialto elevates pretty high above the water so that you can see past it...
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la forme d'une ville change plus vite, hélas! que le coeur d'un mortel...
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