BOSTON — Mayor Martin Walsh’s administration says it will cost up to $80 million and take about five years to replace a bridge that leads to a Boston Harbor island where hundreds of homeless people have been sheltered.

In a statement Thursday, the mayor said the bridge will remain closed for an extended period and that his administration is taking steps to identify housing and treatment services for those affected. Walsh closed the Long Island Bridge Wednesday night after transportation officials deemed it unsafe.

The island, which has no permanent residents, is home to about 440 homeless people on any given night.

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