Minneapolis now has a road map that could lead to the start of redevelopment of the city-owned Upper Harbor Terminal — the largest site likely to come available on its upper riverfront — within five years.

The vision for the area, outlined in the updated Above The Falls master plan, includes a riverfront park, business park and mixed-use development. But first, financing would need to be arranged for projects that emerge from a planning process approved recently by the City Council and the Minneapolis Park and Recreation Board for redeveloping the 48-acre site.

The former port offers a redevelopment canvas that’s more than 40 football fields in size, but it comes with significant restrictions.

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Minneapolis sets sights on redeveloping Upper Harbor Terminal