The New Jersey Economic Development Authority (NJEDA) board recently approved a tax credit award under the Aspire Program for Phase 3 of the New Jersey Health + Life Science Exchange (HELIX) building in New Brunswick.
Known as H-3, the proposed development consists of a 42-story, nearly 560,000-square-foot mixed-use tower that will include affordable residential units, commercial office space, specialized laboratories and housing for Rutgers School of Medicine students.
The HELIX will bring together New Jersey’s public, private and academic sectors to create a world-class hub of innovation and a strong base of support and talent pipeline for innovative companies.
The HELIX campus, consisting of three separate buildings, will provide 1.5 million square feet of multifaceted, state-of-the-art environments supporting an array of health and life science organizations and professions.
H-3 will be located directly across from the New Brunswick Train Station, adjacent to a NJ Transit bus stop, near Rutgers University and approximately 15 miles from Newark Liberty International Airport.
“The NJEDA board’s approval of Aspire awards for this next phase of the HELIX represents a key milestone in our ongoing effort to make New Jersey a leader in technological innovation,” said Gov. Phil Murphy. “With strong partnerships from institutions such as Rutgers University, the HELIX will accelerate groundbreaking research, help startups expand and generate sustained economic opportunity across the state.”
“The HELIX exemplifies Gov. Murphy’s vision to drive inclusive economic growth and strengthen New Jersey’s position as a national leader in discovery and innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “Through the Aspire Program, the NJEDA continues to support transformative development projects that bring together housing, business and transit to create vibrant, walkable communities.
“This award will help expand New Brunswick’s innovation ecosystem while delivering high-quality housing options, new jobs and long-term economic opportunity for residents.”
The proposed development has four main components, including:
- Residential: The 298,390-square-foot residential portion will include 265 units, 53 of which will be affordable. The 212 market-rate units will comprise 38 studios, 148 one-bedrooms and 26 two-bedrooms. The 53 affordable units will include 4 studios, 6 one-bedrooms, 32 two-bedrooms and 11 three-bedrooms. Amenities include a gym, co-working and lounge spaces, communal kitchen, billiards room and outdoor terrace.
- Rutgers WINLAB & ESRG Research Facilities: Rutgers University will consolidate its Wireless Information Network Laboratory (WINLAB) and Energy Storage Research Group (ESRG) into 33,620 square feet of dedicated research space within H-3. These programs will benefit from proximity to campus and adjacency to Nokia Bell Labs’ new Research & Development facility at H-2, enabling enhanced collaboration and accessibility for students.
- Rutgers School of Medicine Student Housing: H-3 will include 52,304 square feet of purpose-built housing for medical students, creating a living-learning environment that integrates researchers, entrepreneurs and faculty within the HELIX ecosystem.
- Commercial Office Space: Additionally, H-3 will include 178,522 square feet of commercial office space that will be leased to Middlesex County to accommodate various county departments and administrative functions.
The Applicant, Downtown HUB Associates III, LLC, which is owned by DEVCO and Pennrose Holdings, LLC, was awarded a tax credit award of up to 80% of the total project cost, not to exceed $359.3 million.
“The HELIX continues to redefine what’s possible for New Brunswick and for our entire state,” said New Brunswick Mayor Jim Cahill. “H-3 represents another major step forward in creating a world-class destination for research, innovation and opportunity. We are grateful for the NJEDA’s continued support and for the strong partnerships with Rutgers University, Middlesex County, DEVCO and our private-sector collaborators.
“Together, we are building a place where students, scientists, entrepreneurs and residents can thrive and where ideas become breakthroughs that strengthen our community and New Jersey’s economy for generations to come.”
The first phase of the HELIX was approved for Aspire tax credits in 2023, and the second phase, with Nokia Bell Labs as its main tenant, was approved for Aspire tax credits in March 2025.
