Category Archives: Business News

By Christine Graf
Hayes Development Co. of Saratoga Springs is building 64 additional townhouse apartments at its The Lofts at Saratoga Boulevard property in Malta.
The project includes eight townhouse buildings, a tennis court and a dog park. It was designed by Cotler Architecture, and Bonacquisti Brothers Construction of Albany is the general contractor.
Construction began in July. The first townhouses will be ready for occupancy in early spring. By summer 2021, the remaining townhouses will be available. “We anticipate reaching full absorption before the completion date,” said Hayes.
The townhouse apartments are being built on a portion of a six-acre parcel of land that was purchased by Hayes Development for $1.35 million in January. The previous owners had planned a mixed-use development called Blacksmith Square on the property. After they defaulted on tax and mortgage payments, Sunmark Credit Union foreclosed on the land.
Hayes Development got it divided into two parcels.

By Christine Graf
Equitas Realty broker/owner Janet Besheer recently relocated her Saratoga Springs office from 38 High Rock Ave. to space in the Wilton Mall.
Her decision to move out of the High Rock Avenue space was made after the COVID-19 pandemic impacted the way she and her staff did business. Both her businesses, Equitas Realty and Equitas Realty Management, are located there.
Because her agents are spending significantly less time in the office, Besheer decided to downsize from a 2,800-square-foot office to a 1,000-square-foot space in the Wilton Mall. The office was previously occupied by Liberty Travel and is located near the Home Goods and Healthy Living Market entrances.
“We’ve realized in recent years that with technology and the ability to do everything on our phones and being totally mobile, there was less need for an office. The way people shop for real estate has truly changed since I started in 2000,” she said. “And when COVID hit this March, we were not allowed to go to our office.”
During the early months of the pandemic, real estate agents were also not allowed to show houses. Instead, they relied solely on photographs and videos to market properties to prospective buyers. All meetings were held virtually and agents began using electronic signature software.

By Erin Nudi
Alan Schnurman took over ownership of the Red Roof Inn in Clifton Park in 2018. In June of this year, he made a change in management and renovations, which had been ongoing slowly, moved forward in earnest.
“Things are run differently now,” said Elaine Swain, the new general manager. Kemanni Gang is also part of the new management team as operations manager.
Swain said the team is re-focusing the hotel’s upgrades and its hospitality mission while adhering to the new COVID regulations.
All of the rooms underwent major renovations in 2019. They now have laminate flooring instead of carpet, which adds safety and cleanliness, two aspects of staying at a hotel that many think about today, she said.
Other upgrades in the guest rooms include a workspace, microwave and refrigerator. A guest laundry room was added and there are plans for the addition of a truck parking lot.

Stewart’s Shops is announced it is expanding its fuel distribution business with the acquisition of Red-Kap, a locally owned, family run business.
Stewart’s officials said the company will acquire eight convenience stores, three car washes, a 75-plus dealer network and fuel distribution business.
Under the terms of the agreement, Stewart’s will maintain the branding of the Mobil, Citgo, and Sunoco stations and will convert a few of the Red-Kap locations into Stewart’s Shops.
“Stewart’s has always respected the business and our long personal relationship with the Kaplans and their team,” said Stewart’s Shops President Gary Dake. “Doing business with people who respect people is always a pleasure. Both organizations come from long local family histories that have helped form the communities where we live.
“The acquisition will add eight corporately run locations and a significant addition of gasoline supply and distribution to local stations. Stewart’s prides itself on vertical integration and support. In the age of COVID-19, with an ever-changing business climate, we look forward to extending this support to the distributor/dealer network.”
Red-Kap, based in Schenectady, owns eight convenience stores from Saratoga to Loudonville, Troy, East Greenbush, and as far west as the Syracuse suburb of Baldwinsville.

By Susan Elise Campbell
DCG Development Co. has planned an expansion of residential space in Executive Woods, one of three mixed-use office parks the company has near the intersection of Route 9 and Route 146 in Clifton Park.
According to Donald MacElroy, DCG vice president, the project will include completely re-purposing an existing structure. They will also build a new one. The result will be a total 50 rental units that MacElroy said will appeal to the middle market.
“New apartments have not been built in Clifton Park in many years,” said MacElroy. “As products age and grow out of use, others step in to take over.”
MacElroy said there is “pent-up demand for apartments, particularly new construction.” He expects that middle-income jobs will continue coming into the area because “many of the businesses springing up around that intersection are health care facilities, bringing in new employment opportunities.”
Executive Woods is on the north side of Route 146 and has a two-story, 20,000-square-foot professional office building that will be converted into 34 rental units, he said. Floor plans are being developed. All walls and partitions will be removed and new utility systems installed.

The Saratoga County Chamber of Commerce and the Town of Malta announced a new website to feature “all the great things” about the town.
The new web presence is targeted toward promoting the good things happening in Malta, officials said, while also serving as an economic development conduit for businesses considering investing in the town.
The new site, www.MaltaWorks.org, is an outgrowth of the work of the town’s Economic Development Committee. The committee last year launched the Malta Works promotional campaign to promote existing businesses and encourage investment from new businesses. Officials said the website is the next step in that project, providing a one-stop portal for anyone considering doing business in Malta.
The site will be administered and maintained by Chamber staff at no cost to the town.
“This new website is a great next step for our Malta Works campaign to show the world that Malta is a great place to do business,” said Malta Supervisor Darren O’Connor. “Our entire town government has worked tirelessly for several years to improve the business climate, while keeping our small town charm. This website is a great window into that effort and I hope businesses and investors find that for whatever their need, Malta Works.”
Building within the framework of the Chamber’s existing site, the Malta Works presence will benefit from the hundreds of thousands of unique views the Chamber website enjoys annually, boosting awareness of all the Town has to offer, he said.