Month: January 2018

Condos On Phila Street Are Complete; No Tenants Yet For Ground-Floor Retail Space

January 4, 2018January 4, 2018

Construction of The Spencer Condominiums at 55 Phila St. started in 2016 and is now complete. The property is attached to the Caffé Lena building and has room for retail space on the ground floor.
©2017 Saratoga Photographer.com

By Jennifer Farnsworth

Bonacio Construction has developed more than 1 million square feet of real estate in downtown Saratoga Springs, the newest being Spencer Condominiums at 55 Phila St.

The construction that started in 2016 is complete.

The Spencer property is attached to the Caffé Lena building and has room for retail space on the ground floor. Mandie Kozlowski, marketing and design coordinator for Bonacio Construction said they do not have any definite tenants for that space, but the company expects it will be filled soon, due to its prime downtown location.

“The condos at 55 Phila are all sold out, except for one. There were eight originally for sale,” said Kozlowski. They went on the market in the summer of 2017.

Capital Bank To Have New Branch In The Area; Officials Expect Opening In 2018 2nd Quarter

January 4, 2018January 4, 2018

Capital Bank, a division of Chemung Canal Trust Co., will open a new, full-service branch in the Saratoga Springs/Wilton area.

According to Anders M. Tomson, president and CEO of Chemung Canal Trust Co. and division president of Capital Bank, “expanding deeper into Saratoga County has been a desire of ours for some time, but it was a matter of identifying the right facility with the right site. We are confident that this location is the perfect match.”

Capital Bank currently operates a branch in Clifton Park.

Located at 3057 Route 50, Capital Bank will lease a former First Niagara office, just on the northern edge of Wilton Plaza. The building has approximately 3,400 square feet of space and features a drive-in teller and a drive-up ATM.

NY Economic Development Initiative Brings $3.3 Million To Projects In Saratoga County

January 4, 2018January 4, 2018

Some $3.3 million in economic and community development funding was awarded to projects in Saratoga County through Round VII of the New York state’s Regional Economic Development Council initiative.

The funds include $300,000 for the Z-HUB project, which involves construction of a grain hub in the town of Moreau to grow, harvest, process, package and ship grains to in-state craft brewers and distillers in eastern New York state, providing greater access to state-produced grains for craft beverage producers and increased market opportunities for grain farmers.

The largest award, $1.7 million, went to Pike Companies, to acquire land and construct and equip a building to establish a Manufacturing Technology Education Center (MTEC), a public-private partnership between GlobalFoundries, SUNY and other institutions and businesses that will provide training for 21st century manufacturing careers.

The Regional Economic Development Council initiative doled out a total of $75 million statewide. The Regional Councils were established in 2011 to replace the state’s old top-down approach to economic development, with one that is community-based and performance-driven. The initiative empowers community, business, and academic leaders, as well as members of the public in each region of the state, to develop strategic plans specifically tailored to their region’s unique strengths and resources in order to create jobs, improve quality of life and grow the economy.

Advisors: Business Plans Require Detailed Focus, But Capital Region Is Good Place To Be

January 4, 2018January 4, 2018

Anthony Ianniello is an attorney and president of Ianniello Anderson PC in Clifton Park.
©2017 Saratoga Photographer.com

by Susan E. Campbell

Area experts say that a healthy economic environment and strong growth prospects in particular sectors are giving a positive message to businesses all around the Capital District: It’s a good time to be in business right here, right now.

“2018 is an ideal time to begin a business. Albany creates a lot of employment as well as opportunities for vendors supplying the Capital, from paper and hardware to restaurants and other service areas,” said Anthony Ianniello, an attorney and president of Ianniello Anderson PC. “There is a stable economic environment in the Capital Region.”

Moreover, the nano-tech center and colleges in and around Albany, and GlobalFoundries headquartered in Malta, create excellent opportunities for suppliers of both materials and expertise, he said.

Ianniello’s advice for ongoing businesses in the service industry is to “drill down on how to best provide services to customers.” To do that, it’s imperative for sales and marketing to be entrenched in the digital world, he said.

2018 Could Be Another Year For Equity Investors To Reap Rewards For Taking Even Moderate Risks

January 4, 2018January 4, 2018

Stephen Kyne, partner, Sterling Manor Financial in Saratoga Springs and Rhinebeck.

By Stephen Kyne

As we turn the page on another year, it’s time to take a look back at all that was, and prepare for what lies ahead. For the economy at large, 2017 was a stellar year and we think there is more to look forward to in 2018.

We’re beginning to feel a bit like a broken record when we say that the year has been better than we expected, and we expect the next year to be good as well. Unfortunately, since 2009, many investors have remained on the sidelines and have missed the opportunities that the economy presented since the recession. The good news is that we think there’s still room to run in this expansion—even those shy investors have time left to participate.

This time last year, we expected that U.S. stock indices could easily provide returns in excess of 10 percent, and boy were we right!. As of Dec. 29, the Dow sits up about 25 percent, the S&P is up 18 percent, and the NASDAQ is up a whopping 29 percent for the year, while bond indices have returned in the neighborhood of 2 percent (barely pacing inflation).

Clearly, equity (stock) investors have been rewarded in 2017, as they have been ever since March of 2009. Loosening regulations, lowering corporate taxes and increased consumer activity have all been among the factors that contributed to an environment which is producing record corporate profits and ultimately the beneficiaries have been stock investors.

Home Of The Good Shepherd Now Provides Treatment For Dementia, Alzheimer Patients

January 4, 2018January 24, 2018

Marion Coppola, an LPN at the House of the Good Shepherd facility on Church Street in Saratoga Springs, talks with resident Anthony Borgese.

By Rachel Phillips

Families with members suffering from dementia and Alzheimer’s have a new place to seek care, thanks to Home of the Good Shepherd.

On July 31, the organization opened a new memory care community, located at the organization’s building at 390 Church St., Saratoga Springs.

The non-profit organization, affiliated with the Bethesda Episcopal Church in Saratoga Springs, has been in operation since 1870, provides care for elderly residents, and has communities in Saratoga, Wilton, Malta and Moreau.

While they offer traditional nursing home services, including housekeeping, meal preparation, medication management, assistance with daily living, Home of the Good Shepherd boasts a more comfortable, home-like environment, while still providing a continuum of care that allows residents to “age in place.”

Along with sunlit, private suites, residents also enjoy a safe, landscaped outdoor courtyard, as well as a highly trained and caring staff, dedicated to celebrating the life of each individual in the community.

Putting Health In Policy Making Makes New York First Age-Friendly State In The Country

January 4, 2018January 4, 2018

New York state has been designated the first age-friendly state in the nation by the AARP and the World Health Organization. This achievement is a result of a directive to include health in state agency policy-making, an effort that will result in more livable communities for people of all ages and enable more New Yorkers to age comfortably in their homes.

“This administration has worked to create livable communities that support the unique needs of seniors and improve quality of life for all New Yorkers,” Gov. Andrew Cuomo said. “As we continue to support community development efforts that deliver health and wellness opportunities for residents, we are honored to be recognized by two of the world’s most prestigious organizations for establishing New York as the first age-friendly state in the nation.”

In order to achieve this designation, New York ranked high in the eight age-friendly and livable community domains outlined by WHO and AARP, which include: outdoor spaces and buildings, transportation, housing, social participation, respect and social inclusion, work and civic engagement, communication and information, and community and health services.

New York also ranks among the top 10 states in the nation for health, up from its ranking as the 40th healthiest state in 1990. This marks the largest five-year gain of all 50 states in the 2017 annual America’s Health Rankings report.

Mannix Marketing Wins National Award For SEO Campaign For Gettysburg Flag Works

January 4, 2018January 5, 2018

Jessica Tracy, left, of Mannnix Marketing, and Maria Coffey, marketing director at Gettysburg Flag Works, hold an award won by Mannix for an SEO campaign it developed for the company.
Courtesy Mannnix Marketing

Mannix Marketing, a digital marketing agency and SEO company based in Glens Falls, was named the winner of the 2017 US Search Awards in the Best Use of Search/Retail category.

“I can’t express how thrilled I am that Mannix Marketing won Best Use of Search – Retail in the US Search Awards, for our work on the Gettysburg Flag Works website,” said Sara Mannix, founder and CEO of Mannix Marketing.

“We partner with our clients to achieve success, so not only is this a tribute to the quality of work of the Mannix Marketing team on this project—led by Jessica Tracy and Amberly Rundell—but it’s also a tribute to our partner Maria Coffey, marketing director at Gettysburg Flag Works.”

Business Briefs

January 4, 2018January 4, 2018

The Ballston Spa Business & Professional Association will hold a networking breakfast 7:30-8:30 a.m. Tuesday, Jan. 9, hosted by Rebuilding Together Saratoga County at 132 Milton Ave. in Ballston Spa.

Rebuilding Together Saratoga County partners with volunteers year round to help homeowners in need live independently in safe and healthy homes and build healthy neighborhoods through their programs. Its resale shop in Ballston Spa sells donated items at a fraction of the cost and all proceeds are used to provide home repairs for veterans, seniors, individuals living with disabilities and families in need.

Cost for the breakfast is $5 with advance reservation—prepayment available at www.ballston.org—or RSVP to info@ballston.org and pay at the door. Non-reserved walk-ins pay $10.

Business and community members are welcome. They need not be a BSBPA member to attend this event.

City’s Famous Springs Waters Still Thought To Have Restorative, Maybe Healing Properties

January 4, 2018January 4, 2018

The Hathorn is one of the many sources of spring water in the city.
©2017 Saratoga Photographer.com

By Maureen Werther

As a lifelong resident of Saratoga Springs, Charlie Kuenzel recalls his childhood, when everyone had a deep understanding of and appreciation for the city’s history and the role the famous mineral springs played in making the city a famous destination.

People seeking health, wellness and perhaps even the fountain of youth sought out the springs in year gone by.

Long before the race horses, the high-rollers and the wealthy elite, the bubbling waters that spouted from the ground were revered by the Mohawk Native American tribe, who believed they had restorative and healing qualities. Today, scores of people continue to visit the springs each week, filling bottles and jugs with water to use in a variety of ways.

Some waters are consumed, while others are used topically as a curative. Proponents of the waters attest to their restorative, revitalizing and healing powers, and different springs are used for issues ranging from intestinal discomfort to acne.