Construction to Begin on Downtown Medical School

March 27, 2013 Updated Mar 27, 2013 at 7:59 PM EDT

By Ed Reilly

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March 27, 2013 Updated Mar 27, 2013 at 7:59 PM EDT

BUFFALO, N.Y. (WKBW) Thanks to a sizeable land donation from First Niagara Bank, construction of the University of Buffalo's new School of Medicine and Biomedical Sciences will begin this Fall.

First Niagara is giving UB a .85-acre parcel of land located near the intersection of High and Main Street in the City of Buffalo.

The property is valued at $2.2 million dollars, but it is being transferred to the university for only $1.

"Without this piece of land, and without the donation, this would have not been possible," said UB president Satish Tripathi.

The downtown medical school will be located adjacent to the new John R. Oishei Children's Hospital and only a short distance away from the Buffalo General Medical Center.