NanoCollege moves on old station deal
“The UAlbany College of Nanoscale Science and Engineering plans to buy Kiernan Plaza — downtown Albany’s historic former train station — through eminent domain so it can more quickly turn the property into a high-tech incubator.
The NanoCollege has been poised to acquire the building on Broadway after being awarded a $4 million grant from the state to fund the project. Clough Harbour & Associates, a Colonie-based engineering firm, agreed to move its headquarters and executive management to Kiernan Plaza to become the anchor tenant of the incubator, which hopes to become a model of urban revitalization through technology. But there are obstacles to acquiring the plaza, which is why eminent domain, a process by which the government acquires private property for the civic good, is being considered.”
Rulson, Larry and Jordan Carleo-Evangelist. Times Union 18 April, 2013.