Written by Rob Lillpopp on June 11, 2009 – 6:18 am
The Times Union of Albany reports - “GlobalFoundries Inc. purchased nearly 223 acres of land Wednesday at the Luther Forest Technology Campus in one of the most anticipated real estate closings ever for the Capital Region.
The price? About $7.8 million, or $35,000 an acre.
That’s a discount on the land that was negotiated as part of the state’s $1.2 billion incentive package for the project, which was first announced three years ago this month.
“We are ecstatic here,” said Michael Relyea, president of the Luther Forest Technology Campus Economic Development Corp., the nonprofit that owns the former logging forest being transformed into a business park. “We are very excited about where we are going in the future.”
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