Silicon Alley as we’ve known it may never be the same. (Don’t panic, it’s a good thing.)

A new 254k SF technology hub will be built on the current site of the P.C. Richard & Son electronics store where Irving Place hits 14th Street in Union Square.

The focus of the $250M project, to be developed by RAL, will be on bringing local talent into the city’s tech industry, Fast Company reports. It’ll be called 14th @ Irving, and will be anchored by Civic Hall, a community center whose website says it’s “a community space where social entrepreneurs, change-makers, government employees, hackers, academics, journalists, and artists can share knowledge, build tools and solve problems together.”

If buying electronics is a problem you’re looking to solve, P.C. Richard & Son will have space on the basement level. There’ll also be a food hall run by Urbanspace and flexible office space targeting young companies.

Shovels are scheduled to hit the ground in 2018, and the doors could open as soon as 2020. [FastCo]