Upper Harbor Terminal
Credit: City of Minneapolis and the Minneapolis Park and Recreation Board
The city of Minneapolis and its master development team are showing off sweeping plans for redevelopment of the Upper Harbor Terminal, 48-acre tract of industrial land running along the Mississippi River.
The concept will be outlined Thursday evening by Minneapolis development firms United Properties, Thor Cos. and First Avenue Productions, which runs the famous downtown Minneapolis nightclub of the same name.
So far, the plan only addresses the first of three planned phases for the site, a former barge terminal between the Lowry Avenue and Camden bridges that includes a mile of riverfront and direct freeway access off Interstate 94. Phase I will develop the northernmost part of the Upper Harbor. It calls for a five-story office building, five- or six-story residential development, a hotel, an innovation hub, two public parks, a plaza and a performing arts venue with space for 10,000 people.
The total development cost will reach $125 million or more in private funding, and will require a significant public investment as well. This year, the Minnesota Legislature granted $15 million to build infrastructure and parks at the site. The city and its park board will kick in $16 million more for the effort, which could see construction begin in 2020 or 2021.
All of the land is owned by the city, so the developers will not be able to take ownership until the plan is firmed up and approved.
The project will be discussed from 6-8 p.m. Thursday at the park board’s building, 2117 W. River Road North. For those who cannot attend the meeting, the city has set two more dates for the public to review the plans: 6-8 p.m. Aug. 28 at the park board building, and 11 a.m. to 1 p.m. Sept. 8 at North Regional Library, 1315 Lowry Ave. N.
