Principal Financial Group Inc. unveiled the name of a new attraction under construction at the Principal Riverwalk.

“Hub Spot,” named after the Hubbell family, will be a multi-use structure with an outdoor open plaza that will be the site of a number of outdoor activities. Construction on the project began last summer with anticipated completion in October.

The structure will be located at the intersection of Court Avenue and Water Street. The Hubbell family contributed funding toward the project, a Principal spokesperson said, but the company is declining to release how much.