The giant NorthPoint parcel in Cambridge will finally begin to see new development after it was bought by DivcoWest last year.

The 42-acre site between Interstate 93 and the Museum of Science hopes to become an extension of the East Cambridge neighborhood, with plans for around 5-million square feet of development.

Plans for the first phase of development includes an office building and retail center, followed by over 2,000 apartments and 2.1 million square feet of office, research and retail space.

DivcoWest is waiting for approval from Cambridge Planning Board this month to adjust the plans to include a central retail square.

By utilizing this currently undeveloped parcel where Cambridge, Boston and Somerville come together, they hope to create a popular tech and research hub to rival Kendall Square and Boston’s Innovation District.

Once the infrastructure is in place developers believe that companies will follow and hopes that the space will attract tech companies throughout Boston looking for more space.

Construction has already begun and if all goes to plan the first office building is set to open by 2019.