Saratoga Business Journal

Local Builder Says Supply Shortages Still Severely Hurting The Building Of New Homes

April 11, 2022

This is a modular chalet built recently in Bolton Landing by Saratoga Modular Homes. Developer Cecil Provost says supply shortages are a problem in the construction industry.

By Christine Graf

As demand for new homes surges throughout the country, supply shortages and price increases continue to plague the construction industry. According to the National Association of Homebuilders (NAHB), more than 90 percent of builders experienced materials shortages and delays in 2021.

Builders were encouraged when lumber prices began to fall after a record high in May of 2021, but prices began to climb again in December. The average cost of lumber is now about three times more than it was before the pandemic, industry officials say.

Economists predicted that supply chain shortages and material costs would begin to ease, but that was before Russia invaded Ukraine. Experts say the war in Ukraine will disrupt supply chains and further exacerbate shortages and price increases. The increase in oil and gas prices that have resulted from Russian sanctions will also impact production and transportation costs.

According to Cecil Provost, owner of Saratoga Construction and Saratoga Modular Homes, increased material costs have caused the average home price to skyrocket.

His companies build custom “stick-built” homes as well as custom modular homes. Stick-built homes are constructed on the job site, whereas modular homes are built in sections at a factory.

“Our specialty is building custom homes with modular construction. We are typically doing porches, and garages, and decks, and higher end finishes. What’s unusual about us is that we design every home from scratch for the customer. We can customize it right down to the bathroom faucets. We are the only builder that I know of in this region and one of the few in the northeast that do what we do.”

Business Report: How Wide Is Your Perspective?

April 11, 2022

Steven Luttman, broker/owner of SJ Lincoln Realty, host of The Expected Returns podcast.
Courtesy Steven Luttman

By Steven Luttman

Few things warm my heart more than a trip to the Lake George outlets.

Some might say cheap, others prefer “financially thoughtful,” but no matter what you call it I like finding a good deal. No doubt many of you feel the same way. Think for a moment about a purchase you’ve been considering recently.

If this item were to become available for 79 percent less than its historical price how excited would that make you? That’s an amazing value. People line up hours in advance for Black Friday deals less great than this. But before you take out your wallet, what if at this exact same time last month the item could be had for 85 percent off. Given that the discount has shrunk, is it still attractive today? Of course, it’s a no brainer.

Freddie Mac’s weekly lender survey found the average 30 year fixed rate mortgage closed out the month of March at 4.67 percent, a sizable jump from the sub 3 percent we were seeing as recently as November.

For anyone that’s been eyeing a home purchase or refinance it’s easy to think “I’ve dropped the ball here, rates are just way too high now”. With a short term perspective you wouldn’t be wrong. However if you were to line up the average rate for every single week over the past 50 years, rates are lower today than they’ve been for almost 80 percent of those data points since 1971.

The rise in borrowing costs we’ve seen in 2022 can be attributed primarily to the Federal Reserve, who in an effort to combat inflation recently announced their first increase to the target Fed Funds rate since 2018. While Chairman Powell can influence short term yields via monetary policy, longer dated maturities are dictated more so by the buying and selling of Treasuries done by investors. It’s the latter that drives mortgage rates.

Woman Who Adopted Holistic Lifestyle To Combat Paralysis Is Yoga Studio Owner

April 11, 2022

Samantha Lyman owns Yana Yoga in the Malta Commons Business Park in Malta.
©2022 Saratoga Photographer.com

By Christine Graf

Saratoga Springs native Samantha Lyman is the new owner of Yana Yoga located in the Malta Commons Business Park at 100 Saratoga Village Boulevard in Malta.

She purchased the business from Amber LaPointe who continues to teach classes at the yoga studio.

Lyman has been practicing yoga for 13 years, but it wasn’t until six years ago that she became a certified yoga instructor. She pursued her training after experiencing a medical crisis that altered the course of her life. At that time, she had two young children and was working 80-hour weeks for a local property preservation company.

“I woke up one morning and I was paralyzed,” she said. “I couldn’t walk. I couldn’t talk. My vision was impaired.”

The Utica College graduate was rushed to Albany Medical Center and for the next four months she was in and out of the hospital. Her condition baffled doctors who eventually concluded that Lyman suffers from an autoimmune disease that causes her adrenal glands to shut down when her body in under stress. Although her actual diagnosis was inconclusive, she said the disease is similar to lupus.

It was only after Lyman adopted a holistic lifestyle which included eating only “food from the ground” that her health gradually started to improve.

“Before my illness, I was eating processed foods, working ridiculously long hours, and practicing no self-care,” she said. “I started drinking celery juice non-stop, eating lots of sweet potatoes and greens, and practicing a lot of medication and yoga. It was through that mind body connection that I was able to bring myself out of it. After I got back into my yoga practice, I never put it back down again. It literally saved my life.”

Manuel Astruc, M.D., Uses Little-Known Technology To Treat People For Depression

April 11, 2022

Manuel Astruc, M.D., uses a Transcranial Magnetic Stimulation machine on a patient.
©2022 Saratoga Photographer.com

By Susan Elise Campbell

When Manuel Astruc, M.D., expanded his psychiatric practice years ago from a solo office to one with four nurse practitioners and specialists, he said “the pattern shift would have a bigger impact on the mental health of the community.”

Now Astruc has introduced a new modality, the first in Saratoga County, that he believes will have the same positive effect. The little-known TMS technology he has acquired has been FDA approved for more than 10 years.

“Mental health in the workplace and the impact of depression on company production is a problem,” he said.

According to the Center for Disease Control, “the percent of physician office visits with depression indicated on the medical record is 10.6” and “the percent of emergency department visits with depression indicated on the medical record is 11.2.”

“Even medical professionals and therapists don’t know it’s available,” said Astruc, who has lived and practiced in the Saratoga area for more than 26 years.

TMS stands for Transcranial Magnetic Stimulation, a machine that stimulates deep areas of the brain and “advances the treatment of mental health disorders without medications or side effects,” he said.

One reason many sufferers of depression, obsessive-compulsive disorder and addiction have been unaware of the existence of TMS therapy is because it is expensive to bring into a psychiatric practice and costly to use in terms of time and manpower, according to Astruc.

Business Report: IRA Distributions For Hybrid Long-Term Care

April 11, 2022

Brian Johnson, director, business development at Advisors Insurance Brokers.
Courtesy Advisors Insurance Brokers

By Brian M. Johnson, MBA, CLTC

Many clients have qualified assets they intend to use for retirement income. However, there is one risk that could potentially jeopardize even the most well thought out plan—the need for long-term care or extended healthcare.

Long-term care is defined as needing assistance or supervision with everyday activities of daily living or ADL’s. A long-term care event is generally not cure oriented and the need for services, whether in home or a facility, is expected to last longer than 100 days. This type of care of referred to as custodial care, and a reason why traditional health insurance, Medicare and/or Medicare Advantage plans don’t cover it. Our default plan includes trying to qualify for Medicaid, which is a financially means tested program, which typically covers a nursing home, zero assisted living and limited home care or to use our own assets and income.

A hybrid long-term care policy is another popular way to address the risk. It’s a type of permanent life insurance policy which offers three core benefits: An income tax-free life insurance death benefit long-term care services aren’t needed, cash indemnity benefits to pay for home care, assisted living and/or skilled nursing and a return of premium rider, which allows the insured to surrender the policy and receive either all or a portion of their premiums back with no penalty or charges.

Unlike a traditional long-term care policy, policy premiums are guaranteed and can never increase and benefits for are paid in cash to the insured, meaning the insured can use the funds however he/she sees fit, whether it’s to offset other bills, pay a family member or licensed providers. It’s an asset allocation approach to financing long-term care needs.

Hospital Offers Interviews To Those Who Complete SUNY Adirondack Tech Course

April 11, 2022

SUNY Adirondack and Saratoga Hospital have entered into a partnership that guarantees individuals who complete the college’s sterile processing technician course an interview for open technician positions at the hospital.

“This is an incredible opportunity for those interested in this rapidly growing field to get the training they need to secure a fulfilling, in-demand career,” said Caelynn Prylo, assistant dean for Continuing Education and Workforce Innovation at SUNY Adirondack. “SUNY Adirondack knows Saratoga Hospital needs skilled, highly trained applicants, and we are thrilled to be able to provide them.”

Saratoga Hospital will offer interviews to participants who successfully complete the sterile processing class. The positions available at the hospital include a competitive benefits package with medical, dental and vacation time.

The sterile processing technician course is one of two 12-week courses offered by SUNY Adirondack through Workforce Readiness Academies Program (WRAP) Reimagine Grant, funded by state and federal Departments of Labor. For no cost, qualified applicants can participate in sessions in sterile processing or python for data analytics.

Interested individuals must be at least 18 years old and have been impacted by the COVID-19 pandemic.

SUNY Empire State Gets Grant To Help Boost Enrollment In Its Nursing Program

April 11, 2022

SUNY Empire State College will enhance nursing program to address the state and nation’s critical nursing shortage

The college has received a $245,580 grant from the SUNY system that is expected to boost enrollment in the college’s nursing program and help address the state and nation’s critical nursing shortage, officials said.

The funds are part of a $3 million SUNY Nursing Emergency Training Fund designed to enable more students to enroll in SUNY’s nursing programs. SUNY Empire will use the money to offset the initial cost of hiring a full-time faculty member and an operations coordinator in its nursing program.

The funding, which will be available July 1 after the state budget is approved, will enable the college to increase enrollment at the School of Nursing and Allied Health by 100 students.

In all, SUNY campuses have more than 70 accredited nursing programs. SUNY campuses were eligible to apply for funding of up to $250,000. The funding can be used in various ways, including curricula development, partnership expansion, and the purchase of instructional equipment and technology.

At SUNY Empire, most of the additional students are expected to come through the Multi-Award Nursing Program that SUNY Empire shares with Nassau Community College (NCC). NCC received $247,000 from the same SUNY funds to expand their nursing program.

As Business Grows, ‘Chimney Heroes’ Owner Builds His Own Training Facility

April 11, 2022

Jamie Wallace, right, Chimney Heroes owner with Michael Wager, center, and Tyler Delsignore.

Chimney Heroes, a chimney services company based in Ballston Spa, has been experiencing a series of growth spurts over the past several years, according to president Jamie Wallace.

The COVID-19 pandemic has changed how people live in their homes. In turn, the home services industry has experienced a lot of record-breaking growth, he said. The latest iteration of Chimney Heroes’ growth trajectory is the completion of a 3,000-square-foot training facility and a new, larger warehouse.

Chimney Heroes provides chimney inspections, sweeping, repair, masonry work and installation of gas and wood fireplaces. Wallace said the secret to the company’s growth and strength is his commitment to education.

All company technicians experience continuing education for excellence training, both internally and externally in an ongoing fashion. The construction of a dedicated training facility is the physical manifestation of years of investment in staff education and training.

“We have a manager on staff whose sole responsibility is training technicians in the field,” said Wallace. “Our company’s core values include professionalism and leadership development and my promise to my team is that I will provide everything they need to succeed and thrive in the chimney care business.

“We have a modern-day apprenticeship to tradesperson program, and we’re always looking to meet new serious candidates who’d like to study and work with us.”

New Technology Allows ‘Rocket Recycling’ To Process Hundreds Of Cans Per Minute

April 11, 2022

Tyler Russell, owner, and Allegra Christidis, store manager, pose inside Rocket Recycling in Glens Falls, a can and bottle redemption center that can process hundreds of items per minute.

By Paul Post

An entrepreneurial Saratoga Springs couple has turned a widespread labor shortage to its advantage by adopting state-of-the-art technology to open a new can and bottle redemption center.

The business, called Rocket Recycling, welcomed its first customers on March 11. It is located at a former Stewart’s Shop building at 255 Ridge St. in Glens Falls.

“It’s all about speed, getting people in and out quickly and being super efficient,” said Tyler Russell. “Our tagline is the ‘Fastest Redemption Center in the Galaxy’.”

He owns the firm with his wife, Julia.

“We just saw an opportunity to do something a little different, using equipment to differentiate ourselves from other places like this,” Russell said. “We’ve been kicking this idea around for several years. The biggest problem today is labor, the same as any industry.”

By surfing the internet, the Russells found an Elmira-based firm, JK Peris, Inc., which specializes in recycling equipment. Such technology eliminates long lines and reduces the need for hiring employees.

Mint, A New Restaurant in Glens Falls, Specializes In Fresh Farm-To Table Dishes

April 11, 2022

Johanna von Geldern, right, owner of Mint, with general manager Brandi Michal.
Paul Post

By Paul Post

A new Glens Falls restaurant is specializing in farm-to-table dishes featuring fresh food sourced from throughout the region.

Johanna von Geldern and her daughters, Katriel and Cagney Houlihan, welcomed their first patrons to Mint, at 80 Warren St., on April 8. She previously owned Sweet Beet Bistro in Greenwich, which closed in March 2020 when COVID-19 hit.

Her focus on serving the highest quality, fresh food remains unchanged.

“With COVID, it just kind of re-emphasized the importance of healthy eating and knowing where food comes from,” von Geldern said. “We became part of the food revolution, reducing carbon footprint, and teaching people about ingredients we were learning about, too.”

“It kind of evolved organically because we’re surrounded by so many farms and artisans,” she said. “We saw this abundance of beautiful food around us.”

The eatery is housed in the former Mailings Made Easy building, owned by Glens Falls developer Peter Hoffman. Its elegant atmosphere reflects the owners’ commitment to providing a rewarding experience for each guest.

Paintings by Glens Falls artist Susan Beadle adorn the walls. A long, black banquette from the State Capitol in Albany gives the main dining room a flair of historic ambiance. In summer, a large glass door will open onto a spacious outdoor dining patio.