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Vista deal in jeopardy

Discord among developer, town and tenant; developer blames IDA

A rendering of the future tech building to house Breonics at 65 Vista Blvd. within the Vista Technology  Campus in Slingerlands.

A rendering of the future tech building to house Breonics at 65 Vista Blvd. within the Vista Technology Campus in Slingerlands. Photo by Marcy Velte.

— “The incentive is for the building that gets built on the property,” said Venezia. “We are going to be pressing (Nicolla) for an update on the project moving forward. It’s up to him to bring in the tenant and sign the tenant.”

Breonics Director of Operations Philip Glowacki said although the company did hire a broker to negotiate its interests in the lease with Columbia Development, the company’s intention was still to move to Vista. Breonics President Ernie Green could not be reached for comment.

Breonics Inc. is an Albany company specializing in organ regeneration research. It had been proposed the company would occupy part of a 27,000-square-foot building on a plot behind the ShopRite grocery store at Vista.

Green had previously said the biomedical research and development company was interested in moving to Vista because the next phase in their research requires clean rooms to be built. They were looking for a new space that was customizable to their needs for a new clinical trial involving the regeneration of kidney tissue for transplant patients.

Venezia said if the deal between Breonics and Columbia Developments falls through, there is no risk to the town because the IDA hasn’t closed on the project.

“The fact is, we’re dealing with public money so we can’t keep these things quiet,” said Venezia. “We need to know the company meets the requirements for abatements that are put in place by the IDA (before a decision is made.)”

Venezia said Nicolla needs to come back before the IDA to discuss any future tech tenants for 65 Vista Blvd. if the deal with Breonics falls through. If Nicolla doesn’t wish to name the tenants, the IDA may be able to go into executive session to discuss the project, but Venezia said that matter would need to be discussed by the agency’s members.

Nicolla, however, seems frustrated with the entire process.

“This just goes to show you what happens when other people think they are developers, and they are not,” said Nicolla.

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