Gov. Phil Murphy (D-N.J.) announced today that Rutgers, Princeton University, Hackensack Meridian Health and RWJBarnabas Health (RWJBH) will be the first tenants of The Hub @ New Brunswick Station, according to a press release.
The Daily Targum previously reported that The Hub, a development for corporate, retail and residential use, will be established across from the New Brunswick train station. It has been seeking tenants through its website since at least January 2015, according to the Targum.
“This project is a major step in helping New Jersey reclaim its spot at the top of the innovation economy,” Murphy said, according to the release. “With its three core partners and first institutional tenant, The Hub will allow us to harness the collective experience of two of the country’s most prestigious research universities and two of its largest healthcare systems, which will serve to revolutionize research and development in our state.”
The Hub is currently scheduled to open in 2024 with the mission of aiding the growth of start-up companies and new technologies in a variety of industries, as well as to support innovation in a way that will help expand the state’s economy, according to the release.
“The Hub is about leveraging the shared commitment of Rutgers and the other partners to help New Jersey regain its position as an innovation powerhouse - regionally, nationally and globally,” said University President Jonathan Holloway, according to the release. “It will serve as a powerful engine to speed the translation of research and take discoveries from the laboratory to the marketplace.”
The site is owned by the city of New Brunswick and managed by the New Brunswick Development Corporation (DEVCO), according to the release. Amenities will include a ground floor makers’ space, second floor event space, lobby cafe and a direct connection to a structured parking facility.
The building will also consist of three major components: the Innovation Center, the Core Partner Space and Corporate or Institutional Tenant, according to the release.
The Innovation Center is aimed to provide a workspace to researchers, entrepreneurs and start-up companies, among others, according to the release. The Core Partner Space will offer collaborative and office spaces to Rutgers, RWJBH, Hackensack Meridian Health and DEVCO in close proximity to the Innovation Center and to allow for direct connections with innovators in real time.
The Corporate or Institutional Tenant will be available for separate leases by corporate or institutional tenants, such as Princeton University, according to the release.
“The Hub firmly establishes New Brunswick as the epicenter of innovation, technology, research and business incubation and will position New Brunswick as a leader in meeting the future demands in these fields that impact so much that affects everyday life,” said New Brunswick Mayor Jim Cahill, according to the release. “We are grateful for the vision and efforts of (Murphy), the State of New Jersey and the Core Partners for making the Hub a reality.”