News

UAlbany ready for boost in rep as new $64M School of Business takes shape

06.17.11

KCCM in the News

Construction has begun on the University at Albany’s new $64 million School of Business.

Kirchhoff-Consigli Construction Management LLC, based in Dutchess County, won the $34 million general contracting bid for the project and is scheduled to finish the job by fall 2013.

The new 95,000-square-foot School of Business is expected to boost the reputation of the school and help lure more faculty, students and corporate recruiters, said Dean Donald Siegel.

The business school had 131 recent graduates recruited this spring by Big Four accounting firms, Siegel said, including 40 who were offered jobs by Ernst & Young.

Investment firms, Goldman Sachs and its subsidiary, The Ayco Co. of Saratoga Springs, and computer chip maker GlobalFoundries in Malta also have recruited business school graduates, Siegel said.

“This is going to have a very big effect on fund-raising and on the job front,” he said.

Other contractors working on the project include Collett Mechanical of Latham, which will install the plumbing and heating and ventilation system.

Schenectady Hardware and Electric will oversee the electrical work, according to Bob Kanarkiewicz, assistant director of design for the State University Construction Fund. The Construction Fund currently is overseeing 149 projects with a total value of $1.5 billion.

The building will include a research center for entrepreneurship, institutional investment management and cyber security.

New York state has committed $54 million toward the construction costs and the university has raised more than $5.8 million of the remaining $9.75 million to finance the project.

The building was designed by Perkins+Will, an international design firm with 24 offices around the world. The project will include technologically advanced classrooms, meeting space and a first-floor trading room with Bloomberg computer terminals. A tunnel will link the building to others on campus.

UAlbany President George Philip said the School of Business will become one of the focal points of the research university, which is also known for its fast-growing $7 billion College of Nanoscale Science and Engineering.

“It’s important for the university to provide students with equipment and facilities to best prepare them,” he said.

The Business Review by Robin K. Cooper