Category Archives: Business News

By Maureen Werther

The Saratoga Springs City Council unanimously approved a 30-year PILOT (payment in lieu of taxes) deal as part of its plans for the re-development of the old Saratoga Diner property on South Broadway, known as “SoBro.”

The incentive plan consists of waivers of various city fees and will support the project’s long-term (50-year) rent restrictions on its planned residential units.

The plan includes incentives of approximately $1.17 million over 30 years on an approximately $30 million investment in the 156,000 square-foot mixed use space and two-tiered parking, as well as waivers of $1,500 per unit recording fees and a waiver of building permit fees.

When completed, the project, which was issued a special use permit this summer by the city Planning Board, will contain 110 affordable one- and two-bedroom apartments- referred to as “workforce housing,” as well as professional and commercial properties. In total, the three-acre property will combine 96,000 square feet of residential space, according to DEW Ventures in Saratoga Springs, doing the project in conjunction with KCG Development of Indianapolis.

By Maureen Werther

Residents who have lived in Saratoga Springs since the mid-1970s will remember that, before it was Cantina or Professor Moriarty’s, the restaurant located at 430 Broadway was Lillian’s.

It opened in 1974 and was named after the famous actress, Lillian Russell, a famous actress and singer of the late 19th and early 20th centuries who made frequent trips to the Spa City during the heyday of her career.

So, it is something of an “organic evolution,” said Cantina owner Jeff Ames, that the very popular Cantina will once again open for business at Lillian’s Restaurant—this time, at its last and longest-occupied location at 408 Broadway.

Lillian’s owner Ray Morris closed the restaurant in December 2015, after selling it to Dan Pickett, CEO of nfrastructure and his wife, Jennifer. The building remained closed following the transaction.

“If it had been any other space that was available, I may not have done it,” said Ames, referring to the deal that closed in November. “I’ve leased Cantina for 10 years and it’s been a great business.”

By Maureen Werther

The Downtowner Hotel on Broadway in Saratoga Springs has been sold and closed in October while its new owners—Lark Hotels, a Massachusetts-based company—completes as-yet-undisclosed renovations and updates to the property.

Lark Hotels founder and CEO Rob Blood chose the Downtowner to add to his company’s growing list of “boutique” properties because it sits squarely in the heart of downtown Saratoga Springs, at 413 Broadway. Blood said that he and his team are excited about their first hotel project in Saratoga. He said the area has been on their radar for a long time and they are thrilled to be part of “what is already such a vibrant community.”

The company paid former owners, husband-and-wife team, Mary Cae and William Asay, $4.55 million for the motel. The sale was financed with a $6.1 million mortgage and construction loan through M&T Bank. Lark Hotels completed the purchase of the property through its real estate holding company, 413 Broadway Holdings Company,LLC, according to documents filed with the Saratoga County Clerk’s office.

The New York State Energy Research and Development Authority (NYSERDA) announced the availability of up to $1.8 million for community campaigns to help residents and businesses install clean heating and cooling systems.

Increasing the use of clean heating and cooling technology will play a major role in achieving the state goal of reducing greenhouse gas emissions 40 percent by 2030, officials said.

Alicia Barton, NYSERDA president and CEO, said, “Clean heating and cooling systems will provide users with energy bill savings, increased comfort levels and health benefits compared to conventional heating and cooling technologies. It’s a win-win for consumers and the environment and is vital to meeting Governor Cuomo’s nation-leading goal to reduce greenhouse gas emissions.”

Officials said the Clean Heating and Cooling Community Campaign initiative will bring together groups of potential customers so they can obtain discounts for air and ground source heat pumps, biomass heating and solar heating through aggregated purchases and a simplified procurement process.

Community campaigns can be proposed by municipalities or community based organizations and will receive up to $150,000 for each campaign, with additional funds available for workforce development ($50,000) and low-to-moderate income engagement ($150,000) strategies. Community campaigns should be in a county, city, borough or region with at least 40,000 residents and are encouraged to include local financial institutions, colleges/universities and local utilities.

The Saratoga County Prosperity Partnership will launch its job-creating Next Wave Center in the Saratoga Technology + Energy Park in Malta.

Officials said it will include an office for the Global Semiconductor Alliance (GSA). The initiative will then expand into multiple sites throughout Saratoga County through creation of the Next Wave Network (NWnet).

The announcement was made during the second annual Saratoga County Prosperity Summit, which attracted more than 150 attendees to the Saratoga City Center.

Prosperity Partnership officials said the NWnet will provide short-term flex space as a landing pad for companies working with GlobalFoundries, and serve as a launch pad for firms to grow business relationships in Saratoga County and the Capital Region. The initial center, at 107 Hermes Road in the STEP Park, will provide 10,500 square feet of space over two floors for companies seeking flexible configurations for office, warehouse, and light manufacturing activities.

The Saratoga Partnership secured the first building by working with the United Group of Companies, which has set aside space for short-term leases—generally from three months to two years—for companies that are just beginning to build business in the marketplace.

Conversations are underway to engage additional real estate developers and landlords to participate in the NWnet, which will be marketed by the Saratoga Partnership to supply chain companies working with GlobalFoundries, among other potential tenants, officials said.

By Rachel Phillips

In 2014, a participant at the Red Hook Criterium bike race in New York City crashed into a metal barricade. Due to his broken ribs, the patient began to suffer respiratory problems. Fortunately, Event Medical Services of New York was onsite and able to provide basic life support and get the person in an ambulance in under three minutes.

A year later, after a full and speedy recovery, he was able to participate in that same race once again.

“If it had just been an ambulance, they couldn’t have gotten to him so fast inside the track like that,” said Travis Dunklee, owner and founder of Event Medical Services of New York, based in Lake George. “That’s where our motto ‘When seconds count, count on us’ comes from, because more often than not we’re there in 30 seconds.”

Upon realizing there was a gap in the market for affordable, proactive, and effective event medical services, Dunklee started his business in 2007 out of the desire to help his community.

Hiring an ambulance to attend large-group events is often a necessary precaution, but it can cost upward of $150 an hour. There’s also no guarantee the ambulance will stay on site if an emergency calls it away.

The providers of Event Medical Services of New York, however, will be present for the duration of the event, no matter what happens, and their services come at an affordable rate, said Dunklee. The staff is often the first line of defense before an ambulance is able to help.

A collaborative effort among  MJ Properties, Fairchild Square LLC and the Clifton Park IDA and Saratoga Economic Development Corporation (SEDC) has helped win over $394,000 of local incentives to boost $3.23 million in new private investment in Clifton Park.

The investments are expected to attract 27 new jobs and retain seven area jobs over the next three years, according to SEDC.

“As part of attracting and retaining talent and businesses to grow jobs, Saratoga needs an inventory of competitive spaces,” the agency said in a statement.

SEDC said $2.3 million of private investment will deliver a 25,000-square-foot new spec building to be programmed for future warehouse or office space projected to stimulate 15 new jobs within three years. Another $950,000 of private investment will deliver a 7,500-square-foot building that will be the new home of MJ Properties, retaining seven local jobs.

The other half of the building will be available for lease and is projected by SEDC to attract 12 new jobs within three years. Construction of the buildings will start in January at 8 and 12 Fairchild Square, Clifton Park.