The New Jersey Economic Development Authority Board approved $359 million in tax credits for a major construction phase of the New Jersey Health + Life Science Exchange development in New Brunswick.

The New Jersey Health + Life Science Exchange , known as HELIX, is a $750 million research complex that will consist of three buildings in the city’s downtown on the site of the former Ferren Mall.

The tax credit funding will target the H-3 phase of construction, which is a 42-story mixed-use tower planned for a site directly across from the New Brunswick Train Station, according to a statement from the board .

The tower will feature 265 residential units, including 53 designated as affordable housing.

The building will house Rutgers School of Medicine student housing and consolidate k

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