May 23, 2014

New 'ZEN' building will be its own energy generator

By: Michael DeMasi

Source: Albany Business Review

The newest building set to rise on the growing Albany nanotechnology campus represents another step in the growing influence of "green" research and development, but it won’t happen without help from a city agency.

Fuller Road Management, the real estate arm of the College of Nanoscale Science and Engineering, is seeking $186 million in bonds through the Capital Resource Corp. to construct the Zero Energy Nanotechnology (ZEN) building.

The CRC is a financing vehicle. The bonding, if approved, would not be an obligation of the CRC or city taxpayers.

Fuller Road Management would have to pay the CRC a fee of about $1.4 million, and would save $2.3 million in mortgage recording tax.

The ZEN, meanwhile, is designed to generate as much energy as it uses over the course of a year using renewable resources. It will be a living laboratory for groundbreaking research into renewable energy resources, and is expected to draw more than 1,500 “clean tech” jobs to the state.

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