CHICAGO (CBS)–Skyscrapers towering 70 stories above the Chicago River’s North Side are part of a developer’s plans to bring new life to the area known as Lincoln Yards.

CBS 2’S Mike Puccinelli reports on new details of the redevelopment on land that was once occupied by the Old Finkl steel plant.

Developer Sterling Bay Partners revealed highly-anticipated information Wednesday during the first public meeting for the redevelopment, which would connect Bucktown and Wicker Park to Lincoln Park.

Rendering of a soccer stadium and other entertainment venues planned for the Lincoln Yards development project along the Chicago River on the North Side.

Rendering of a soccer stadium and other entertainment venues planned for the Lincoln Yards development project along the Chicago River on the North Side. (Credit: Sterling Bay)

The plans would include about 12 million square-feet of buildings and would create more than 20,000 jobs, according to the developers.

A $5 billion development is planned to cover at least 70 acres along the river between Lincoln Park and Bucktown on parcels of land once occupied by industrial businesses.

A train station connecting to the 606 bike path was also revealed in the renderings unveiled Wednesday.

The plans would also transform the quiet swath of land into a lively hub for sports and parks and recreation–with offices, hotels, apartments and condos.

The entire project would take about a decade to complete, according to the developers.