Yes it is, and it is constitutional. Only requirement is the owner be fairly compensated.
‘Fair compensation’ as to eminent domain is a very, very obscure and manipulative societal quandary. If people, especially government persons, were not involved perhaps more fair and suitable arrangements between parties could result. I am a firm believer that what I have obtained honestly is mine until I decide to share or part from. On this issue I have serious disagreement and disappointment about Trump’s caring for the ordinary persons.