Most of what we know about star and planet formation has been secured from spatial 2D observations of the local Galactic neighborhood, collected over the last 70 years. During this time we have established a series of ground truths developed around a poorly understood structure called Gould’s Belt. In this framework, we use Orion as the template for massive star formation and Taurus for low-mass star formation, but we do not know if these two clouds are related, nor why different clouds have different star formation yields. In this talk I will report the 3-D structure of all local cloud complexes (d < 2kpc), using accurate distances. We find a narrow and coherent 2.7 kpc arrangement of dense gas in the Solar neighborhood that contains many of the clouds thought to be associated with the Gould Belt. This finding is inconsistent with the notion that these clouds are part of a ring, disputing the Gould Belt model. The new structure comprises the majority of nearby star-forming regions, has an aspect ratio of about 1:20, and contains about 3 million solar masses of gas. Remarkably, the new structure appears to be undulating and its 3-D distribution is well described by a damped sinusoidal wave on the plane of the Milky Way, with an average period of about 2 kpc and a maximum amplitude of about 160 pc. Our results represent a first step in the revision of the local gas distribution and offer a new, broader context to studies on the transformation of molecular gas into stars.