The U.S. Department of Transportation last week granted nearly $1 billion toward the replacement of the Cape Cod bridges, the single largest investment in the long-awaited project. 

The plan to build two new spans across the Cape Cod Canal has now amassed about $722 million, and the state Department of Transportation and the U.S. Army Corps of Engineers have a pending $1 billion grant application to the federal government. 

Massachusetts lawmakers announced the grant from the U.S. Department of Transportation Friday evening, and said it could be a sign of further funding for the Bourne and Sagamore bridges, the two aging roadways that serve as the only vehicle passage to and from the Cape.

Funds to replace the aging Bourne and Sagamore bridges did not make the cut Wednesday as part of a first round of funding under the Bipartisan Infrastructure Law.

After a 2019 study found that the iconic Bourne and Sagamore bridges were “functionally obsolete,” the public got their first look at the three proposed replacements during a public hearing on Tuesday.

With a major project to rebuild the Bourne and Sagamore bridges in the pipeline, MassDOT will host two virtual public meetings this week.

State and federal leaders announced a memorandum of understanding that will shift the project to replace the Bourne and Sagamore bridges to the state level.