Minneapolis Just Broke Ground on Its Most Exciting Riverfront Project
About this video
Minneapolis has officially broken ground on the $350 million Upper Harbor riverfront project in North Minneapolis. The development will bring an 8,000-seat amphitheater, a 20-acre riverfront park, new housing, commercial space, trails, jobs, and a community wellness hub to the Mississippi River.
In this video, we compare Upper Harbor to the transformation of the North Loop and explain what this project could mean for North Minneapolis real estate, home values, buyers, sellers, and future development.
Key takeaways
- The North Loop shows what can happen to an old industrial area: a warehouse district for most of the 1900s, then artists, developers, restaurants and condos. Today it's one of the most in-demand parts of Minneapolis, with condos from the high $300,000s.
- Upper Harbor Terminal, 48 acres of city-owned riverfront in North Minneapolis's McKinley neighborhood, was a barge terminal from 1968 until 2014 and sat empty for over a decade.
- Ground broke in May on a roughly $350 million project. Its centerpiece is an 8,000-seat outdoor amphitheater run by First Avenue and the Minnesota Orchestra, with about 50 ticketed events a year, opening summer 2027.
- Also planned: a 20-acre riverfront park running about a mile along the Mississippi with separate bike and walking trails (summer 2026), about 520 housing units, about 45,000 square feet of commercial space, a health and wellness hub and about 300 living-wage jobs.
- Ground-lease revenue from private development goes into a 99-year community fund. Jason sees it as a long-term story for North Minneapolis, though no one can promise how it plays out.
Questions this video answers
What is the Upper Harbor Terminal project?
A roughly $350 million redevelopment of 48 acres of Mississippi riverfront in North Minneapolis, with an 8,000-seat amphitheater, a 20-acre riverfront park, about 520 homes and new commercial space.
When does the Upper Harbor amphitheater open?
The amphitheater, run by First Avenue and the Minnesota Orchestra, is expected to open in summer 2027, according to the video. The riverfront park is expected in summer 2026.
Read more: McKinley · Webber-Camden · North Loop · Minneapolis market report
Notes written by Huerkamp Home Group from this video. Figures are as stated in the video on July 10, 2026; check the current numbers in our market reports.
