Category Archives: Business News

Construction has started on Dominic Hollow Apartments, a $21 million affordable and supporting housing development in the town of Ballston that will create 60 homes, including 30 reserved for adults in need of supportive services.

Dominic Hollow Apartments will be affordable to households earning at or below 60 percent of the Area Median Income. Thirty apartments will be reserved for adults who will receive on-site services provided by RISE Housing and Support Services. RISE is also the project’s developer with CSD Housing in a consulting role.  

“Saratoga County is one of the fastest-growing counties in New York, and the Dominic Hollow Apartments will help fulfill the rising need for affordable housing,” Gov. Kathy Hochul said in announcing the start of the work. “As we continue to emerge from the pandemic, my administration will continue to prioritize investments that allow New Yorkers to find safe, secure, and sustainable housing so they can live healthy and successful lives in the communities they love.”

Services and rental subsidies for 18 supportive units will be funded by the Empire State Supportive Housing Initiative and 12 supportive units will be funded by the state Office of Mental Health. OMH is providing $416,000 annually in operating expenses for the 18 ESSHI units, as well as $477,000 annually for the 12 supportive units.

Officials said Dominic Hollow Apartments is designed to meet the energy efficiency requirements of the New York State Energy Research and Development Authority’s Low-Rise New Construction program and EPA’s ENERGY STAR Certified Homes Program Version 3.1. Sustainable features will include Energy Star or equivalent heating and cooling equipment, appliances, and light fixtures; water-conserving plumbing fixtures; and low- or no-VOC paints, primers, adhesives, and sealants. 

New York state has awarded over $81 million through its Regional Economic Development Council initiative to support 97 priority projects across  the state. 

This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. Additionally, projects within each region are eligible for a share of $75 million in Excelsior Jobs Program Tax Credits to help attract and grow business in their region.

In Saratoga County, four projects received funding.

“The pandemic toll touched every corner of the state and every sector of New York’s economy, and as a result we must ensure that our recovery does the same,” Gov. Kathy Hochul said. “As we move forward from the pandemic we are using the rolling grant process to build New York state back better by supporting shovel-ready projects with the potential to accelerate new investments and catalyze economic growth in every community.”

“Through a collaborative, bottom up, and regional approach to economic development, these projects were chosen for their innovation, impact on their communities and potential for positive change coming out of the pandemic,” said Lt.  Gov. Brian Benjamin. “Whether it is workforce development, tourism, green investments or domestic manufacturing, we are moving forward to foster a strong and prosperous economy in New York state.”

By Jill Nagy

Plans have been delayedfor the move of Jack Hall Plumbing and Heating from its present Glens Falls location to Route 9 in Moreau. 

Owner Ty Hall proposed to construct a new home for the business on land he owns near Northway Exit 17. The new space would be about five times the size of the present building and have room for a training classroom, storage area, offices, loading docks, an exercise center, an indoor truck wash and the operations center.

“We want to expand the company  and put some jobs out there,” Hall said. Business is “crazy right now” and they need more space.

While town officials appear to be happy to have the additional jobs and tax revenue, they are urging Hall to locate his facility near the Northway instead of the Route 9 corridor. In order to build where he wishes, Hall needs a rezoning to C-1, industrial use. 

For now, his eight-acre parcel is partly zoned for residential use and partly for light commercial, essentially office use.

Select Sotheby’s International Realty in Saratoga Springs is part of a new strategic partnership with Four Seasons Sotheby’s International Realty in South Burlington, Vt., and Peerage Realty Partners of Toronto.

This transaction will expand the company’s market presence into the mid-Hudson Valley Region and Upstate New York. This is Peerage Realty’s fifth partnership with Sotheby’s International Realty, the companies said in a news release.

The partnership will expand Four Seasons Sotheby’s International Realty’s footprint into upstate New York. 

This new partnership will significantly enhance Four Seasons Sotheby’s International Realty’s position as a leading player in the premium residential real estate market throughout Vermont, New Hampshire, and now Upstate New York, positioning it for further growth and future partnership investments.

As result of this transaction, Four Seasons Sotheby’s International Realty, with which Peerage Realty partnered in July 2021, will now have over 303 agents, 48 employees in 23 offices across Vermont, New Hampshire, and New York. The firm’s sales are projected to exceed $2 billion this year, the company said.

The combined company will continue to be led by CEO and Partner Alan DiStasio and President and Partner Laurie Mecier-Brochu. Dan Collins and Lou Izzo from Select Sotheby’s International Realty and Gary DiMauro from Gary DiMauro Real Estate will continue with the company. Andrea Demoracski from Select Sotheby’s International Realty will serve as executive vice president, regional manager for the Upstate New York region.

Overnight reservations at campgrounds operated by the Office of Parks, Recreation and Historic Preservation (State Parks) and the state Department of Environmental Conservation (DEC) climbed to record highs this year as visitors embraced safe, healthy, and affordable recreation during the COVID-19 pandemic. 

Through Columbus Day in October, campsites, cabins and cottages at State Parks campgrounds were occupied for 787,103 nights, surpassing the previous 2019 record of 684,820 nights by 15 percent, according to state data. DEC campgrounds were occupied for 394,401 nights, surpassing the previous 2016 record of 354,521 nights by more than 10 percent. 

“The numbers don’t lie,” said Gov. Kathy Hochul. “People have shown how much they appreciate all that our state campgrounds have to offer, especially as the pandemic made outdoor recreation more desirable than ever. Not only are our campgrounds, affordable, clean, and safe, but with these sites being so vital to New York’s tourism economy, my administration will continue to do all we can to ensure New York remains a top destination for campers.”

Officials said that over the last decade, as improvements were being made statewide under the NY Parks 2020 capital program, total overnight stays at campgrounds have risen nearly 45 percent.

State Parks operates 68 campgrounds, featuring 8,179 campsites, 825 cabins, 18 yurts, and 136 full-service cottages with amenities like power, kitchen, bath, beds, living room, and outdoor living space. 

Nominations are being accepted for the 2022 National Small Business Week (NSBW) Awards. The NSBW Awards recognize the achievements of SBA-assisted small businesses and the contributions they have made to their communities and our nation’s economy.

“The SBA Upstate New York District is excited to further support our small businesses and entrepreneurs in 2022. We’re looking for your nominations for the Agency’s 2022 National and District Small Business Week Awards, including our Small Business Person of the Year,” said District Director Bernard J. Paprocki.

The SBA Upstate New York District serves 34 counties across upstate New York, including Saratoga, Warren and Washington.

“The past 20 months have been challenging as small businesses have adapted and pivoted to meet the demands of COVID across our 34 county coverage area. That’s why we’re asking our neighbors to nominate a small business owner who has used an SBA program like the Paycheck Protection Program, COVID Economic Injury Disaster Loans, Restaurant Revitalization Fund, Shuttered Venue Operators Grant or any of our traditional funding programs or resource partner services,” Paprocki said.

“Self-nominations are also accepted to help further highlight our vibrant small business community from Central New York, the Capital Region and North Country to the Hudson & Mohawk Valleys, Southern Tier and Finger Lakes,” he said.

To nominate a small business owner located in the Upstate New York District,  apply online at sba.gov/nsbw. Learn more about nomination guidelines, downloan the required background and nomination forms and submit them via the proper national or district upload link. For National Small Business Week 2022, no paper or mailed forms will be accepted. All nominations must be made online.

An AARP Fraud Watch Network report is alerting consumers of scams they could encounter over the holidays. Of those surveyed, 75 percent  percent reported they have been targeted or experienced at least one form of fraud that can be tied to the holidays.  

“Scammers are out in force during the holidays to try to steal money or sensitive information from consumers,” said Kathy Stokes, AARP director of fraud prevention programs. “Online shopping, shipping gifts and even charitable donations can become tools for scammers to use in their schemes. Knowing the warning signs is the first step you can take to spot and avoid scams.”  

Three quarters of adults surveyed said they plan on shopping online for the holidays, but consumers need to know the red flags before logging in. Over a third of adults reported they experienced fraud when buying a product through an online advertisement. Some online advertisements can download malicious software onto devices or lead the shopper to a cloned site of a legitimate store.

Officials said scams can also occur when shoppers search online for customer service contact information. Nearly half of adults surveyed believe the customer support number found at the top of an online search can be trusted. Online ads that appear to be a legitimate company’s customer service information can be a scammer’s attempt to get consumers to call them instead. 

Use a billing statement or other information obtained directly from the company to find legitimate numbers, officials advised. Also, a retailer will never ask for your log-in information when providing customer support.

Closed sales have continued to drop across the Empire State while home prices have risen for 18 consecutive months, according to the housing report released by the New York State Association of Realtors.

After escalating for 13 straight months, closed sales in New York have receded in back-to-back months. Sales fell 10 percent from 15,401 homes this time last year to just 13,867 sales in October 2021. Pending sales dropped as well, falling to 14,108 homes—a 6.45 percent decrease from the 15,069 sales last October. New listings of homes also fell, decreasing from 18,440 listings in October 2020 to 15,507 last month. This marks a 15.9 percent decrease in year-over-year comparisons.

Median sales prices continued to rise in October. The median price of $370,000 last month marks a 10.1 percent increase from the $336,000 price in October 2020. The New York market has now seen 18 consecutive months of median sales increases in year-over-year comparisons.