A series of big-ticket park projects aimed at revitalizing land along the Mississippi River in Minneapolis got a $3 million boost Wednesday from General Mills.

The company’s donation is the first corporate investment in a $15 million fundraising campaign that kicked off about six months ago. Contributions will back $34 million in park construction and new trails designed to better connect north and northeast Minneapolis to the river.

Through the 20-year revamp known as RiverFirst, the several miles of waterfront on the northern side of Minneapolis are expected to transform from a predominantly industrial swath to a haven of green space and new community-oriented development.

Proponents have hailed the public-private initiative as an economic engine. Improving access to the Mississippi and riverfront amenities will reinvigorate neighborhoods nearby, they say, and further cement Minneapolis’ place as a regional destination.

Individual donors have so far kicked in a little more than $6 million to RiverFirst, spearheaded by the Minneapolis Parks Foundation, the primary philanthropic partner to the Minneapolis Parks and Recreation Board.

“We are pleased with our campaign momentum,” said RiverFirst campaign chair Paul Reyelts, the former chief financial officer of Valspar. “We look forward to engaging many more visionary companies and individuals.”

The organization has reached out to several other companies and anticipates moving closer to its goal over the next year. Separate from the campaign, RiverFirst is in line for local, state and federal funding.

With General Mills’ multimillion-dollar vote of confidence in the effort, Parks Foundation head Tom Evers expects a cascade of interest from corporate players.

“It really is an indication to the rest of the community that this project is moving forward,” he said. “It’s a huge step.”

Still, RiverFirst isn’t the only park project scouting out cash from companies tied to Minneapolis.

Downtown East Commons, a 4.2-acre park taking shape in the shadow of the new Minnesota Vikings stadium, has racked up $10.5 million of its $22 million goal despite its billing as a jewel for the many major companies with offices close by. Its backers insist fundraising is on track, but the slow-going campaign has drawn scrutiny.

But Evers said Tuesday there’s plenty of room in corporate coffers for both projects. Plus, he said, there’s enough of an appetite among potential donors for an overhaul of the Mississippi near downtown and the Upper River area, a part of the city overlooked by investors for decades.

“People are ready to invest in parks philanthropically like never before,” Evers said. “I’d say this is a renaissance for the parks.”

For General Mills, the buy-in marked a sort of homecoming. The company, now based in Golden Valley, sprouted from milling businesses along the Minneapolis riverfront, swelling over the past 150 years into one of the world’s largest food companies.

“All that General Mills is today ties back to this very place,” General Mills Chairman and CEO Ken Powell said. “Our history is the city’s history.”

The contribution will be split between RiverFirst’s signature projects — Water Works, the 4-acre riverside park slated for land between Portland Avenue South and the Third Avenue Bridge, plus a trail link and pier at 26th Avenue North, and a future park and beach at Hall’s Island just north of the Plymouth Avenue Bridge.

This summer, the demolition of the historic Minneapolis Fuji Ya building at 420 First St. S. will clear the way for Water Works. Planners expect to wrap up the first phase of park construction by 2019, with a second phase scheduled for completion by 2023.

Work on the 26th Avenue river connections will start by next year. Specific plans for recasting Hall’s Island as a waterfront gathering space are still coming together.

As the city braces for a population boom, Mayor Betsy Hodges said continued investment in its parks and related infrastructure is a vital component of community-building. She also praised General Mills’ move.

“That changes a city,” she said. “That changes people’s lives.”

RiverFirst released a number of renderings of the proposed projects:

Related content:

Like this article? Gain access to all of our great content with a month-to-month subscription. SPECIAL: Start your subscription with our low intro rate of just $9.99.