Historic Dutch Bridge Being Temporarily Dismantled to Accommodate Jeff Bezos' Yacht

Geography Photos/Universal Images Group via Getty. Inset: Phillip Faraone/Getty Koningshaven bridge, Jeff Bezos

In order to make room for Jeff Bezos' new yacht, some temporary changes will need to be made to a historic bridge in the Netherlands.

The city of Rotterdam — a major port city — has agreed to temporarily dismantle part of the Koningshaven Bridge in order to accommodate the yacht, a city spokeswoman told the Washington Post. (Bezos purchased the Post in 2013, but newspaper staff has said they have editorial independence.)

Once completed, the 417-foot-long yacht — which is currently being built in the nearby city of Alblasserdam — will be the largest sailing yacht in the world, per Boat International. The ship is expected to be finished sometime this summer.

Bloomberg previously reported that the ship will likely cost more than $500 million.

As is, the yacht is too tall to pass through the bridge, which has a clearance of just over 13 feet, per the Post.

The 58-year-old billionaire and the company building the yacht will reportedly cover the cost, according to the Dutch broadcaster Rijnmond.

A rep for Bezos did not immediately respond to PEOPLE's request for comment.

RELATED: Lauren Sánchez Shares Holiday Snap with Son and Partner Jeff Bezos: 'Nothing Better Than This'

A Rotterdam spokesperson, who confirmed to the Post that the city will not be paying for the middle section of the bridge to be dismantled and then reassembled, was not able to provide an estimate of how much the project will cost.

"A lot of details need to be worked out," Frances van Heijst told the newspaper.

Phillip Faraone/Getty Images Jeff Bezos

Originally built in 1927, the bridge was declared a national monument after being decommissioned in 1994, per the Post.

Following a major restoration, city officials said in 2017 the bridge would be kept intact moving forward, Rijnmond reported.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

While the decision has caused some controversy, city officials said that they decided to agree to it for economic reasons.

"From an economic perspective, we attach great importance to preserving employment," van Heijst told the Post.