The industrial part of the Old Port, long marked by the iconic yet abandoned Silo No. 5, could be getting a very new look.

On Friday, the city launched a call for proposals for how to revitalize the silo and Pointe de Moulin.

City officials said they’re hoping to see proposals that include residential units, hotels, tourist attracts and shopping areas.

However, any project would have to include Silo No. 5 as it currently stands. The building has been abandoned since 1996 but, despite its rundown appearance, is recognized as a Heritage Site due to its status as the extant example of 20th century grain elevators.

The building is currently owned by crown corporation The Canada Lands Company, but Vice-President Pierre-Marc Mongeau said that will change as any project goes forward.

“We are going to go through a long process of selection and the winner will buy the land that will include Mill St. and Silo No. 5,” he said. “They will have to put in place the project they presented to us. They will also have to go through a consultation with the City of Montreal and the zoning process.”

Construction on Silo No. 5 began in 1903 and was completed in several stages, with the goal being to make Montreal the world’s leading grain port.

No date has been given for when any construction might begin, but the selection process is expected to finish by end of summer.