To perform a realistic reliability analysis of a complex cable‐stayed steel footbridge subject to natural hazard and corrosion, this article addresses a rational process of modeling and simulation based on identification, model updating, and validation. In particular, the object of this study is the Ponte del Mare footbridge located in Pescara, Italy; this bridge was selected as being a complex twin deck curved footbridge because it is prone to corrosion by the aggressive marine environment. With the modeling and simulation objectives in mind, a preliminary finite element (FE) model was realized using the ANSYS software. However, uncertainties in FE modeling and changes during its construction suggested the use of experimental system identification. As a result, the sensor location was supported by a preliminary FE model of the footbridge, although to discriminate close modes of the footbridge and locate identification sensor layouts, Auto Modal Assurance Criterion (AutoMAC) values and stabilization diagram techniques were adopted. Modal characteristics of the footbridge were extracted from signals produced by ambient vibration via the stochastic subspace identification (SSI) algorithm, although similar quantities were identified with free‐decay signals produced by impulse excitation using the ERA algorithm. All these procedures were implemented in the Structural Dynamic Identification Toolbox (SDIT) code developed in a MATLAB environment. The discrepancies between analytical and experimental frequencies led to a first update of the FE model based on Powell's dog‐leg method that relied on a trust‐region approach. As a result, the identified FE model was capable of reproducing the response of the footbridge subject to realistic gravity and wind load conditions. Finally, the FE was further updated in the modal domain, by changing both the stationary aerodynamic coefficients and the flutter derivatives of deck sections to take into account the effects of the curved deck layout.