Hyperion Station is built in the 2070s in orbit around Saturn's moon Hyperion, a location chosen for its proximity to the Sirius warp bridge. It's a major waypoint between Earth and anything past Sirius, and Earth's first line of defense within the Solar system. For twenty years it is the largest station in the solar system, and includes both a strong civilian and military presence. Mining operations on the small moon's surface keep the station supplied with water and ore for raw materials.
Like Ceres, Hyperion is designed to be habitable to both Humans and Bactarans due to its position and role in the Bactaran mining operation.
Following Herschel Station's completion in 2095, Hyperion Station is no longer the dominant living space around Saturn for Humans. Its focus shifts in favor of the military, and the civilian population soon becomes majority Bactaran. When the Orion War breaks out, Hyperion Station restricts the rights of its resident Bactarans (beginning with their right to leave the station), and the civilian quarters are gradually transformed into a virtual internment camp for Bactarans. When the Parella Treaty is signed, the Bactarans are again permitted to leave, and in the next few years the station again becomes a blend of civilian and military—but the shadow of oppression (and racism) never fully leaves the station.