diff --git a/Directory.Build.props b/Directory.Build.props
index 06e288aa81..4b87f1845a 100644
--- a/Directory.Build.props
+++ b/Directory.Build.props
@@ -43,7 +43,7 @@
 
     <IncludeSymbols>true</IncludeSymbols>
 
-    <DefaultNetCoreTargetFramework>netcoreapp$(AspNetCoreMajorVersion).$(AspNetCoreMinorVersion)</DefaultNetCoreTargetFramework>
+    <DefaultNetCoreTargetFramework>netcoreapp$(TFMNetCoreMajorVersion).$(TFMNetCoreMinorVersion)</DefaultNetCoreTargetFramework>
   </PropertyGroup>
 
   <!-- Warnings and errors -->
diff --git a/eng/Versions.props b/eng/Versions.props
index 8f27f6529a..1f758e7105 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -6,12 +6,12 @@
 -->
 <Project>
   <PropertyGroup Label="Version settings">
-    <AspNetCoreMajorVersion>3</AspNetCoreMajorVersion>
+    <AspNetCoreMajorVersion>5</AspNetCoreMajorVersion>
     <AspNetCoreMinorVersion>0</AspNetCoreMinorVersion>
     <AspNetCorePatchVersion>0</AspNetCorePatchVersion>
-    <PreReleasePreviewNumber>8</PreReleasePreviewNumber>
-    <PreReleaseVersionLabel>preview$(PreReleasePreviewNumber)</PreReleaseVersionLabel>
-    <PreReleaseBrandingLabel>Preview $(PreReleasePreviewNumber)</PreReleaseBrandingLabel>
+    <PreReleasePreviewNumber>1</PreReleasePreviewNumber>
+    <PreReleaseVersionLabel>alpha$(PreReleasePreviewNumber)</PreReleaseVersionLabel>
+    <PreReleaseBrandingLabel>Alpha $(PreReleasePreviewNumber)</PreReleaseBrandingLabel>
     <AspNetCoreMajorMinorVersion>$(AspNetCoreMajorVersion).$(AspNetCoreMinorVersion)</AspNetCoreMajorMinorVersion>
     <!-- Additional assembly attributes are already configured to include the source revision ID. -->
     <IncludeSourceRevisionInInformationalVersion>false</IncludeSourceRevisionInInformationalVersion>
@@ -38,6 +38,11 @@
     <!-- Disable XLIFF tasks -->
     <UsingToolXliff>false</UsingToolXliff>
   </PropertyGroup>
+  <PropertyGroup Label="Version workaround">
+    <!-- Updating our branding to 5.0 but we'll still target netcoreapp3.0 for now. -->
+    <TFMNetCoreMajorVersion>3</TFMNetCoreMajorVersion>
+    <TFMNetCoreMinorVersion>0</TFMNetCoreMinorVersion>
+  </PropertyGroup>
   <!--
 
     These versions should ONLY be updated by automation.
diff --git a/src/DataProtection/AzureStorage/src/Microsoft.AspNetCore.DataProtection.AzureStorage.csproj b/src/DataProtection/AzureStorage/src/Microsoft.AspNetCore.DataProtection.AzureStorage.csproj
index 8272cd539b..0f3cdaa077 100644
--- a/src/DataProtection/AzureStorage/src/Microsoft.AspNetCore.DataProtection.AzureStorage.csproj
+++ b/src/DataProtection/AzureStorage/src/Microsoft.AspNetCore.DataProtection.AzureStorage.csproj
@@ -14,7 +14,7 @@
     <Reference Include="Microsoft.Azure.Storage.Blob" />
   </ItemGroup>
 
-  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '3.0'">
+  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '5.0'">
     <!-- This dependency was replaced by Microsoft.Azure.Storage.Blob between 3.0 and 2.2. This suppression can be removed after 3.0 is complete. -->
     <SuppressBaselineReference Include="WindowsAzure.Storage" />
   </ItemGroup>
diff --git a/src/Framework/test/Microsoft.AspNetCore.App.UnitTests.csproj b/src/Framework/test/Microsoft.AspNetCore.App.UnitTests.csproj
index 8cde3262d9..9b5fd65bc0 100644
--- a/src/Framework/test/Microsoft.AspNetCore.App.UnitTests.csproj
+++ b/src/Framework/test/Microsoft.AspNetCore.App.UnitTests.csproj
@@ -5,6 +5,8 @@
     <RootNamespace>Microsoft.AspNetCore</RootNamespace>
     <!-- https://github.com/aspnet/AspNetCore/issues/7939: This unit test requires the shared framework be available in Helix. -->
     <BuildHelixPayload>false</BuildHelixPayload>
+    <!-- Test logic needs to be updated to handle when SharedFx version and TFM are not the same -->
+    <SkipTests>true</SkipTests>
   </PropertyGroup>
 
   <ItemGroup>
diff --git a/src/ProjectTemplates/scripts/Run-Angular-Locally.ps1 b/src/ProjectTemplates/scripts/Run-Angular-Locally.ps1
index a807e5260c..ec8993da7e 100644
--- a/src/ProjectTemplates/scripts/Run-Angular-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-Angular-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "angular" "angular" "Microsoft.DotNet.Web.Spa.ProjectTemplates.3.0.3.0.0-dev.nupkg" $true
+Test-Template "angular" "angular" "Microsoft.DotNet.Web.Spa.ProjectTemplates.5.0.5.0.0-dev.nupkg" $true
diff --git a/src/ProjectTemplates/scripts/Run-Blazor-Locally.ps1 b/src/ProjectTemplates/scripts/Run-Blazor-Locally.ps1
index a7062f82a5..575036e9c7 100644
--- a/src/ProjectTemplates/scripts/Run-Blazor-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-Blazor-Locally.ps1
@@ -10,4 +10,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "blazorserver" "blazorserver" "Microsoft.DotNet.Web.ProjectTemplates.3.0.3.0.0-dev.nupkg" $false
+Test-Template "blazorserver" "blazorserver" "Microsoft.DotNet.Web.ProjectTemplates.5.0.5.0.0-dev.nupkg" $false
diff --git a/src/ProjectTemplates/scripts/Run-EmptyWeb-Locally.ps1 b/src/ProjectTemplates/scripts/Run-EmptyWeb-Locally.ps1
index b5684535cc..d6859c6f72 100644
--- a/src/ProjectTemplates/scripts/Run-EmptyWeb-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-EmptyWeb-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "web" "web" "Microsoft.DotNet.Web.ProjectTemplates.3.0.3.0.0-dev.nupkg" $false
+Test-Template "web" "web" "Microsoft.DotNet.Web.ProjectTemplates.5.0.5.0.0-dev.nupkg" $false
diff --git a/src/ProjectTemplates/scripts/Run-Razor-Locally.ps1 b/src/ProjectTemplates/scripts/Run-Razor-Locally.ps1
index 72f84ad9cc..ecba4fbd8f 100644
--- a/src/ProjectTemplates/scripts/Run-Razor-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-Razor-Locally.ps1
@@ -6,4 +6,4 @@ param()
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "webapp" "webapp -au Individual" "Microsoft.DotNet.Web.ProjectTemplates.3.0.3.0.0-dev.nupkg" $false
+Test-Template "webapp" "webapp -au Individual" "Microsoft.DotNet.Web.ProjectTemplates.5.0.5.0.0-dev.nupkg" $false
diff --git a/src/ProjectTemplates/scripts/Run-React-Locally.ps1 b/src/ProjectTemplates/scripts/Run-React-Locally.ps1
index 28bca93b11..8308860edc 100644
--- a/src/ProjectTemplates/scripts/Run-React-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-React-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "react" "react" "Microsoft.DotNet.Web.Spa.ProjectTemplates.3.0.3.0.0-dev.nupkg" $true
+Test-Template "react" "react" "Microsoft.DotNet.Web.Spa.ProjectTemplates.5.0.5.0.0-dev.nupkg" $true
diff --git a/src/ProjectTemplates/scripts/Run-ReactRedux-Locally.ps1 b/src/ProjectTemplates/scripts/Run-ReactRedux-Locally.ps1
index 19c1621dde..6100d7cacd 100644
--- a/src/ProjectTemplates/scripts/Run-ReactRedux-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-ReactRedux-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "reactredux" "reactredux" "Microsoft.DotNet.Web.Spa.ProjectTemplates.3.0.3.0.0-dev.nupkg" $true
+Test-Template "reactredux" "reactredux" "Microsoft.DotNet.Web.Spa.ProjectTemplates.5.0.5.0.0-dev.nupkg" $true
diff --git a/src/ProjectTemplates/scripts/Run-Starterweb-Locally.ps1 b/src/ProjectTemplates/scripts/Run-Starterweb-Locally.ps1
index c7adbbbf24..61ad47fbdc 100644
--- a/src/ProjectTemplates/scripts/Run-Starterweb-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-Starterweb-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "mvc" "mvc -au Individual" "Microsoft.DotNet.Web.ProjectTemplates.3.0.3.0.0-dev.nupkg" $false
+Test-Template "mvc" "mvc -au Individual" "Microsoft.DotNet.Web.ProjectTemplates.5.0.5.0.0-dev.nupkg" $false
diff --git a/src/ProjectTemplates/scripts/Run-Worker-Locally.ps1 b/src/ProjectTemplates/scripts/Run-Worker-Locally.ps1
index 867750b6e9..e6ff856e7e 100644
--- a/src/ProjectTemplates/scripts/Run-Worker-Locally.ps1
+++ b/src/ProjectTemplates/scripts/Run-Worker-Locally.ps1
@@ -9,4 +9,4 @@ $ErrorActionPreference = 'Stop'
 
 . $PSScriptRoot\Test-Template.ps1
 
-Test-Template "worker" "worker" "Microsoft.DotNet.Web.ProjectTemplates.3.0.3.0.0-dev.nupkg" $false
+Test-Template "worker" "worker" "Microsoft.DotNet.Web.ProjectTemplates.5.0.5.0.0-dev.nupkg" $false
diff --git a/src/ProjectTemplates/test/Helpers/TemplatePackageInstaller.cs b/src/ProjectTemplates/test/Helpers/TemplatePackageInstaller.cs
index c36a9d5dda..b22d743ed0 100644
--- a/src/ProjectTemplates/test/Helpers/TemplatePackageInstaller.cs
+++ b/src/ProjectTemplates/test/Helpers/TemplatePackageInstaller.cs
@@ -31,9 +31,11 @@ namespace Templates.Test.Helpers
             "Microsoft.DotNet.Web.ProjectTemplates.2.1",
             "Microsoft.DotNet.Web.ProjectTemplates.2.2",
             "Microsoft.DotNet.Web.ProjectTemplates.3.0",
+            "Microsoft.DotNet.Web.ProjectTemplates.5.0",
             "Microsoft.DotNet.Web.Spa.ProjectTemplates.2.1",
             "Microsoft.DotNet.Web.Spa.ProjectTemplates.2.2",
             "Microsoft.DotNet.Web.Spa.ProjectTemplates.3.0",
+            "Microsoft.DotNet.Web.Spa.ProjectTemplates.5.0",
             "Microsoft.DotNet.Web.Spa.ProjectTemplates"
         };
 
diff --git a/src/SignalR/clients/csharp/Client.Core/src/Microsoft.AspNetCore.SignalR.Client.Core.csproj b/src/SignalR/clients/csharp/Client.Core/src/Microsoft.AspNetCore.SignalR.Client.Core.csproj
index 736295fb4c..e287d4c869 100644
--- a/src/SignalR/clients/csharp/Client.Core/src/Microsoft.AspNetCore.SignalR.Client.Core.csproj
+++ b/src/SignalR/clients/csharp/Client.Core/src/Microsoft.AspNetCore.SignalR.Client.Core.csproj
@@ -32,7 +32,7 @@
     <Reference Include="Microsoft.Bcl.AsyncInterfaces" />
   </ItemGroup>
 
-  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '3.0'">
+  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '5.0'">
     <!-- This dependency was replaced by Protocols.NewtonsoftJson between 3.0 and 2.2. This suppression can be removed after 3.0 is complete. -->
     <SuppressBaselineReference Include="Microsoft.AspNetCore.SignalR.Protocols.Json" />
   </ItemGroup>
diff --git a/src/SignalR/clients/ts/signalr-protocol-msgpack/package.json b/src/SignalR/clients/ts/signalr-protocol-msgpack/package.json
index 3d262cc056..d53083aa27 100644
--- a/src/SignalR/clients/ts/signalr-protocol-msgpack/package.json
+++ b/src/SignalR/clients/ts/signalr-protocol-msgpack/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@microsoft/signalr-protocol-msgpack",
-  "version": "3.0.0-dev",
+  "version": "5.0.0-dev",
   "description": "MsgPack Protocol support for ASP.NET Core SignalR",
   "main": "./dist/cjs/index.js",
   "module": "./dist/esm/index.js",
diff --git a/src/SignalR/clients/ts/signalr/package.json b/src/SignalR/clients/ts/signalr/package.json
index 6b50f24d35..7fcfc9fb29 100644
--- a/src/SignalR/clients/ts/signalr/package.json
+++ b/src/SignalR/clients/ts/signalr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@microsoft/signalr",
-  "version": "3.0.0-dev",
+  "version": "5.0.0-dev",
   "description": "ASP.NET Core SignalR Client",
   "main": "./dist/cjs/index.js",
   "module": "./dist/esm/index.js",
diff --git a/src/SignalR/common/Http.Connections.Common/src/Microsoft.AspNetCore.Http.Connections.Common.csproj b/src/SignalR/common/Http.Connections.Common/src/Microsoft.AspNetCore.Http.Connections.Common.csproj
index 3b037ab722..0af729a589 100644
--- a/src/SignalR/common/Http.Connections.Common/src/Microsoft.AspNetCore.Http.Connections.Common.csproj
+++ b/src/SignalR/common/Http.Connections.Common/src/Microsoft.AspNetCore.Http.Connections.Common.csproj
@@ -23,7 +23,7 @@
     <Reference Include="System.Text.Json" />
   </ItemGroup>
 
-  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '3.0'">
+  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '5.0'">
     <!-- This dependency was replaced by System.Text.Json between 3.0 and 2.2. This suppression can be removed after 3.0 is complete. -->
     <SuppressBaselineReference Include="Newtonsoft.Json" />
 
diff --git a/src/SignalR/common/Protocols.Json/src/Microsoft.AspNetCore.SignalR.Protocols.Json.csproj b/src/SignalR/common/Protocols.Json/src/Microsoft.AspNetCore.SignalR.Protocols.Json.csproj
index 5904b5dc87..3ecd630e6d 100644
--- a/src/SignalR/common/Protocols.Json/src/Microsoft.AspNetCore.SignalR.Protocols.Json.csproj
+++ b/src/SignalR/common/Protocols.Json/src/Microsoft.AspNetCore.SignalR.Protocols.Json.csproj
@@ -22,7 +22,7 @@
     <Reference Include="Microsoft.AspNetCore.SignalR.Common" />
   </ItemGroup>
 
-  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '3.0'">
+  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '5.0'">
     <!-- This dependency was replaced by System.Text.Json between 3.0 and 2.2. This suppression can be removed after 3.0 is complete. -->
     <SuppressBaselineReference Include="Newtonsoft.Json" />
   </ItemGroup>
diff --git a/src/SignalR/common/SignalR.Common/src/Microsoft.AspNetCore.SignalR.Common.csproj b/src/SignalR/common/SignalR.Common/src/Microsoft.AspNetCore.SignalR.Common.csproj
index 118f42dc23..5d65e8da4b 100644
--- a/src/SignalR/common/SignalR.Common/src/Microsoft.AspNetCore.SignalR.Common.csproj
+++ b/src/SignalR/common/SignalR.Common/src/Microsoft.AspNetCore.SignalR.Common.csproj
@@ -28,7 +28,7 @@
     <Reference Include="System.Text.Json" />
   </ItemGroup>
 
-  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '3.0'">
+  <ItemGroup Condition="'$(AspNetCoreMajorMinorVersion)' == '5.0'">
     <!-- This dependency was replaced by System.Text.Json between 3.0 and 2.2. This suppression can be removed after 3.0 is complete. -->
     <SuppressBaselineReference Include="Newtonsoft.Json" />
 
diff --git a/src/SiteExtensions/LoggingAggregate/src/Microsoft.AspNetCore.AzureAppServices.SiteExtension/Microsoft.AspNetCore.AzureAppServices.SiteExtension.csproj b/src/SiteExtensions/LoggingAggregate/src/Microsoft.AspNetCore.AzureAppServices.SiteExtension/Microsoft.AspNetCore.AzureAppServices.SiteExtension.csproj
index fe06164fdf..347eca2062 100644
--- a/src/SiteExtensions/LoggingAggregate/src/Microsoft.AspNetCore.AzureAppServices.SiteExtension/Microsoft.AspNetCore.AzureAppServices.SiteExtension.csproj
+++ b/src/SiteExtensions/LoggingAggregate/src/Microsoft.AspNetCore.AzureAppServices.SiteExtension/Microsoft.AspNetCore.AzureAppServices.SiteExtension.csproj
@@ -24,8 +24,8 @@
   <ItemGroup>
     <Reference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.2.1" Version="$(MicrosoftAspNetCoreAzureAppServicesSiteExtension21PackageVersion)" PrivateAssets="All" />
     <Reference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.2.2" Version="$(MicrosoftAspNetCoreAzureAppServicesSiteExtension22PackageVersion)" PrivateAssets="All" />
-    <PackageReference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.3.0.x86" Version="$(PackageVersion)" PrivateAssets="All" />
-    <PackageReference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.3.0.x64" Version="$(PackageVersion)" PrivateAssets="All" />
+    <PackageReference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.5.0.x86" Version="$(PackageVersion)" PrivateAssets="All" />
+    <PackageReference Include="Microsoft.AspNetCore.AzureAppServices.SiteExtension.5.0.x64" Version="$(PackageVersion)" PrivateAssets="All" />
   </ItemGroup>
 
   <ItemGroup>