The bridge was built between June and November 1929 at a cost of $350,000, which was $100,000 over budget.
Adjusting for inflation, the cost to rebuild in the 2010s would be over $20 million.
The project was financed by Lon P. Piper, president of the Royal Gorge Bridge and Amusement Company of San Antonio, Texas.
Piper hired George E. Cole as the Chief Engineer and the bridge was completed in about six months with no deaths or serious injuries.
The formal opening occurred on December 8, 1929.
Piper agreed to a twenty-year lease of the gorge and surrounding land, which is owned by Cañon City, paying a $1000 yearly fee to the city with a reduced fee of $500 in some years of hardship.

In 1931, the 3 ft (914 mm) narrow gauge incline railway was built to the bottom of the gorge through a narrow cleft just west of the north end of the bridge.
The first suicide occurred later the same year when a man from Pueblo, Colorado jumped off the bridge.
In 1937, a lighting system was installed to illuminate the bridge and the gorge walls.

In 1947, after struggling for many years through the Great Depression and World War II, Piper sold the bridge and leasing rights to a group of local Colorado businessmen and Clint Murchison, a Texan who made a fortune in oil, gas, and real estate.
A long-time employee of the park stated that Murchison, who died in 1969, never visited the bridge he had bought, even after he became the sole owner.

In the 1950s, a lodge was built by the gorge and the Silver Rock Railway 2 ft (610 mm) narrow gauge train with a Chance Rides miniature C.P. Huntington locomotive began running along the edge of the gorge near the bridge.
In 1956, Murchison and his Royal Gorge Bridge Company based in Dallas agreed to pay the city a percentage of its revenue instead of the $1000 yearly fee for the lease.
The percentage arrangement has proven very favorable for the city in the ensuing years, allowing it to lower property taxes significantly.
The property tax rate has since become the lowest in Colorado.
The bridge was built between June and November 1929 at a cost of $350,000, which was $100,000 over budget. Adjusting for inflation, the cost to rebuild in the 2010s would be over $20 million. The project was financed by Lon P. Piper, president of the Royal Gorge Bridge and Amusement Company of San Antonio, Texas. Piper hired George E. Cole as the Chief Engineer and the bridge was completed in about six months with no deaths or serious injuries. The formal opening occurred on December 8, 1929. Piper agreed to a twenty-year lease of the gorge and surrounding land, which is owned by Cañon City, paying a $1000 yearly fee to the city with a reduced fee of $500 in some years of hardship.
In 1931, the 3 ft (914 mm) narrow gauge incline railway was built to the bottom of the gorge through a narrow cleft just west of the north end of the bridge. The first suicide occurred later the same year when a man from Pueblo, Colorado jumped off the bridge. In 1937, a lighting system was installed to illuminate the bridge and the gorge walls.
In 1947, after struggling for many years through the Great Depression and World War II, Piper sold the bridge and leasing rights to a group of local Colorado businessmen and Clint Murchison, a Texan who made a fortune in oil, gas, and real estate. A long-time employee of the park stated that Murchison, who died in 1969, never visited the bridge he had bought, even after he became the sole owner.
In the 1950s, a lodge was built by the gorge and the Silver Rock Railway 2 ft (610 mm) narrow gauge train with a Chance Rides miniature C.P. Huntington locomotive began running along the edge of the gorge near the bridge. In 1956, Murchison and his Royal Gorge Bridge Company based in Dallas agreed to pay the city a percentage of its revenue instead of the $1000 yearly fee for the lease. The percentage arrangement has proven very favorable for the city in the ensuing years, allowing it to lower property taxes significantly. The property tax rate has since become the lowest in Colorado.
Royal Gorge Bridge