Developer Related Midwest has $5 billion plans to develop a 62-acre plot of land along the river. The development will include a new innovation center anchored by the University of Illinois, according to Curbed Chicago.

The innovation institute is named the Discovery Partners Institute. Northwestern University and the University of Chicago will also be involved, according to the report. Related Midwest is expected to donate a part of the 62 acres to this project.

The Discovery Partners Institute will be just one piece of this major development. The riverside property is also expected to include up to 10 million square feet of commercial and residential space, according to the report.

The Related Midwest development could also be one of Chicago’s suggested locations for Amazon’s HQ2 campus.

Related Midwest is calling this development “the 78,” which refers to hope to create a 78th neighborhood. Eventually, the project will connect the South Loop and Chinatown.

More details on the Discovery Partners Institute are expected to be revealed soon, according to the report.