Category Archives: Business News

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.

The Saratoga Builders Association raised  $75,000 from the 2017 Saratoga Showcase of Homes to Rebuilding Together Saratoga County and Habitat for Humanity of Northern Saratoga, Warren and Washington Counties.

The association said it is the highest amount raised since 2011 when the donation amount was the same. The Saratoga Builders Association has now contributed over $1.1 million dollars to local charities from the event.

The Saratoga Showcase of Homes concluded its 22nd year in October, with 14 award-winning builders presenting 18 homes. This year’s tour had nearly 4,000 visitors touring the new homes on display over three weekends.

The 2017 Saratoga Showcase of Homes “People’s Choice” award winners were also announced.

McPadden Builders won in the Classic Home category, Marini Homes in the Executive Home category and Bella Home Builders (Cedar Bluff) for the Luxury Home category.

By Liz Witbeck

Four new building lots in Saratoga Springs, being referred to as the Reserve at Ohonte Way are available for purchase and development. The 14-acre space offers country living within the city limits, off of Kaydeross Avenue West and Route 9.

It is less than two miles from Northway Exit 13 and downtown Saratoga Springs.

After three years of planning and approvals, Kaydeross Partners LLC has developed the Reserve at Ohonte Way.  Wayne Perras, Realtor for Keller Williams Realty, is representing the property.

“It took a long time to carve this out because it was a virgin lot,” said Perras.

The Reserve at Ohonte Way was named to honor the indigenous Mohawk tribe from the region. Like the word “Kaydeross”, “Ohonte” is also a Mohawk word, meaning “grass” or “green.”

The development offers country living, said Perras, so that residents can enjoy a sense of peace and solitude, away from the busy downtown center. Evergreen trees and a running stream provide the backdrop of the property.