The New Jersey Innovation and Technology Hub, a 550,000-square-foot complex for research and corporate, retail and residential use received a ceremonial groundbreaking yesterday by Gov. Phil Murphy (D-N.J.), University President Jonathan Holloway and others, according to an article from NJ Advance Media.
The $665 million project, developed by the New Brunswick Development Corporation (DEVCO), will be established across from the New Brunswick Train Station where the Ferren Mall once was, according to the article. It has been expanded to include the Rutgers Translational Research building and the Rutgers Robert Wood Johnson Medical School.
“This is one of those rare projects that when completed will be even more exciting than our original vision,” Murphy said. “The addition of the medical school and research facility will make this a one-of-a-kind facility, and the medical and scientific breakthroughs made here will be felt for generations.”
The Daily Targum previously reported The Hub will consist of a workspace called the Innovation Center for researchers, entrepreneurs, start-up companies and others. Additionally, it will include collaborative and office spaces for core project partners and spaces for corporate or institutional tenants.
Middlesex County announced yesterday its position as a core partner for The Hub, joining Rutgers, RWJBarnabas Health, Hackensack Meridian Health and DEVCO along with the first tenants, Princeton University and Choose New Jersey, according to a press release.
Murphy said The Hub will enable start-up leaders to walk up to researchers and clinicians and consult them in real-time, according to the article. And clinicians and researchers in the pharmaceutical and life science industries will have ready access to academic and industry experts as they work side-by-side on treatments, he said.
The Hub is scheduled to open in 2024, the Targum reported.
“The project announced today has the potential to be the most meaningful and profound investment this state has ever made in translational research that will take innovation and discovery from the bench to the bedside,” Holloway said. “This investment will fuel the kind of innovation that unleashes the combined power of one of America’s greatest public research universities with industry and other academic partners to disrupt and to transform the state and regional economies.”