A few years back, I scratch built, well kit bashed/scratch built, a vertical lift bridge using three Walthers Arched Pratt Double Track Bridges to build the main span and Central Valley parts to construct the towers. I chose to make it non-operational. I modeled the bridge based upon the PRR 458 Vertical Lift Bridge that crosses the South Branch of the Chicago River at Canal Street.
I ran a thread about the construction of my model back then, but Photobucket destroyed it by removing all of the photos during one of their fee tirades. Here is a photo of my finished model.
The vertical lift bridge that the OP is considering is different than mine in several ways but mainly in the shape of the towers which are more similar to Frank's model.
Walthers has produced a series of bridges including swing bridges and bascule bridges, but to my knowledge has never produced a vertical lift bridge. Custom Model Railroads (CMR) has such a model, like the type that the OP is contemplating, but it is quite pricey.
Rich