Saratoga Business Journal

Business Briefs: May 2018

May 3, 2018May 4, 2018

The Round Lake Library Malta branch will be hosting a Social Security retirement information program on Tuesday, May 15 at 6 p.m. in the Holden Room for pre-retirees wanting to make a more informed claiming decision.

Topics covered include: When is the best time to file for benefits; navigating the new Social Security rules; Choosing between worker and spousal benefits; and how to get all of what you’re entitled to.

The hour-long program entitled, “Getting Serious about Social Security,” is designed to help individuals better prepare for the financial challenges of retirement given the potential for living longer. The program is being offered as a public service by John N. Kalil, Jr., financial coach and president of Retirement Solutions LLC.

Stewart’s Shops And Dake Family Donate To Renovation Of Auditorium At Hyde Museum

May 3, 2018May 4, 2018

Mike Harran and Sheri McGarr of Stewart’s Shops present Hyde Collection Interim Director Anne Saile, center, with a $30,000 gift from the company and the Dake family.
Courtesy The Hyde

The Hyde Collection has received a $30,000 donation from Stewart’s Shops and the Dake family which owns the company.

Museum officials said the gift is a first step toward renovating the aging Helen Froehlich Auditorium, a 132-seat space used for lectures, film screenings, concerts, special events and more.

“The Hyde Collection is honored to receive this generous leadership gift from Stewart’s and the Dake family,” said Anne Saile, interim director of the museum. “This is an investment not just in the auditorium, but in The Hyde’s future.”

The museum has a long history with Stewart’s, as the company—a family- and employee-run chain with 335 local stores across northern New York and southern Vermont—provides annual grants to help fund the Hyde’s weekly free children’s programs.

Adirondack Ortho Adds New Guilderland Office

May 3, 2018May 4, 2018

Adirondack Orthodontics, which has an office in Clifton Park, has acquired Guilderland Orthodontics, which has provided care and treatment to patients for more than 30 years.

Dr. Charles Buchanan, who founded Guilderland Orthodontics in 1986, will relocate to Adirondack Orthodontics’ present office at 1465 Western Ave. in Albany,.

Dr. Sergey Berenshteyn founded Adirondack Orthodontics in 2012. The business also has a location in Latham.

With this acquisition, Adirondack Orthodontics now serves more than 1,700 patients and employs 15 people, said Berenshteyn.

Application Period Is Open For New Regional Economic Development Council Grants

May 3, 2018May 4, 2018

New York state has launched Round VIII of the Regional Economic Development Council initiative, officially kicking off the 2018 competition for more than $750 million in state economic development resources.

The consolidated funding application is open, enabling businesses, municipalities, nonprofits and the public to begin applying for assistance from dozens of state programs, through a single application, for job-creation and community development projects.

The deadline for applications is Friday, July 27 at 4 p.m.

“The Regional Economic Development Councils have redefined how economic development is done in New York State, creating new jobs, stronger local economies, and more unified regions,” Gov. Andrew Cuomo said. “We are once again empowering regions to chart their future, while providing the necessary tools to implement their vision for community and economic growth, creating a positive impact across the Empire State.”

Personnel Briefs: May 2018

May 3, 2018May 4, 2018

The Capital District Transportation Authority (CDTA) announced that Georgeanna M. Nugent of Saratoga Springs was elected to serve as chairwoman of its board of directors. Nugent was appointed to the CDTA board in May 2009. In addition to being chairwoman, she is a member of the board’s Operations Committee and the Strategic and Operational...

Witt Construction Plans ‘Downton Walk,’ Condos On The East Side Of Saratoga Springs

May 3, 2018May 21, 2018

This is a rendition of Downton Walk, a condominium neighborhood to be developed by Witt Construction at 27 Jumel Place in Saratoga Springs.
Courtesy Witt Construction

**Project Name Corrected May 21, 2018**

By Maureen Werther

Witt Construction is getting ready to begin construction on a new project, Downton Walk, in Saratoga Springs. The condominium project at 27 Jumel Place includes seven upscale English-style homes that will offer privacy combined with a feeling of community, according to the company.

The parcel, which was cleared last year, was formerly home to a small manufacturing facility and a ballet studio with apartments.

The intimate cluster of seven homes will be situated on one parcel of land, offering the feel of a small, intimate neighborhood enclave, but with the advantage of private yards. The homes will range in size from 2,000 to 4,000 square feet, with an abundance of optional spaces that could be used for such things as additional bedrooms, entertainment areas, gyms, wine cellars or lower level garages.

Teakwood Builders Will Move Its Offices Into Building It Is Renovating On Church Street

May 3, 2018May 4, 2018

This is a rendering of what the new headquarters of Teakwood Builders will look like at 75 Church St. in Saratoga Springs. The work is expected to be completed by August.
Courtesy Teakwood Builders

By Maureen Werther

Teakwood Home Builders is about half way through its renovation and expansion of the 1940s-style box garage and former home of Mangione Locksmiths at 75 Church St. in Saratoga Springs.

When it is complete, the building will serve as headquarters and showroom for the company. But it will also be an homage to an industrial age style of architecture that has faded from the landscape in this part of the country, the company said.

Jim Sasko, owner and president of Teakwood Builders, said he conducted in-depth research into the history of the architectural style of the 1940s box-style garages. The typical design consisted of two overhead doors with a glass front that wrapped around one corner of the structure.

Business Report: Want To Grow? Reinvest In Your Staff

May 3, 2018May 4, 2018

Michael Cruz is president of Lighthouse Advisors LLC in Queensbury. Courtesy Lighthouse Advisors LLC

By Michael Cruz

Good news. The economy is doing well. Bad news. That will shrink the labor market. Often, I write about hiring and its associated pains. There is one way you can reduce that pain. It is investing in the people you already have.

We already know that it costs less to keep our customers than it does to acquire new ones. The same is true about the people that work for you. Hiring is difficult, it is expensive, and it is not a 100 percent solution.

Many years ago, I worked for a very fast-growing software company. When I joined it, the company’s sales were $18 million. When I left 7 years later, sales topped $450 million.

Business Report: Which Structure Fits Your Project Best?

May 3, 2018May 4, 2018

Sarah Lewis Belcher is senior counsel with Bond, Schoeneck & King. Courtesy Bond, Schoeneck & King

By Sarah Lewis Belcher, Esq.

Property owners have a number of options for structuring a construction project: general contractor, construction manager or design/build. There are differences among the three that are important to understand when deciding which structure best fits.

A general contractor (GC) enters into contracts with and coordinates the work of subcontractors to complete the project. General contractors are not involved in the design of the project and instead become part of the process once the plans and specifications have been completed.

General contractors are often selected by competitive bidding, so are incentivized to keep the bid price low to be more competitive. Once the project is awarded, the GC will endeavor to keep the cost within budget, particularly since the GC will retain any unexpended amounts up to the contract price as profit.

U.S. Military Academy Grad Builds Career As A Trainer, Motivational Speaker And Writer

May 3, 2018May 4, 2018

Jay Rifenbary, president of Rifenbary Development in Saratoga, named “Speaker of the Year”
Courtesy Rifenbary Development

By Maureen Werther

Jay Rifenbary, president of Rifenbary Development in Saratoga Springs, was recently honored by Vistage Worldwide Inc. with the 2017 Speaker of the Year Award.

According to Vistage, the award “recognizes the MVP of the Vistage speaker community, which includes nearly 1,000 experts on topics ranging from leadership to health and wellness.”

Vistage Worldwide is a business advisory and executive coaching organization based out of San Diego.