Saratoga Business Journal

Peregrine Senior Living In Clifton Park Has Expansion Plans As Demand For Beds Grows

August 9, 2018August 9, 2018

Peregrine Senior Living at 1 Emma Lane in Clifton Park is planning an expansion.
Courtesy Peregrine Senior Living

By R.J. DeLuke

Peregrine Senior Living in Clifton Park has a new landlord, but the organization will not only continue to do business as usual, but has plans to expand.

Peregrine serves people with Alzheimer’s and dementia.

The 52-bed facility at 1 Emma Lane, off Route 146, recently sold for $9.65 million. Peregrine Senior Living, based in Syracuse, had been leasing the property from HCP, a real estate investment trust in Irvine, Calif. HCP sold the property to ValStone Partners, a private equity firm in Baltimore.

Stephen Bowman, president of Peregrine Senior Living, said the transaction basically results in a transfer of real estate from one landlord to another.

Business Report: Plan For Rising Costs Of Health Care

August 9, 2018August 9, 2018

David Cumming, senior vice president and financial advisor, Morgan Stanley.

By David L. Cumming

Longer life spans and rising health care costs are driving investors to control their financial exposure to uncovered bouts of care—particularly in retirement.

The United States spends more than $3 trillion a year on health care, or nearly $10,000 per person. Overall spending rose 5.8 percent in 2015, faster than the pace of inflation or wage growth.

AARP Study: Most Seniors Enjoy Working; Many Plan To Earn Money Independently

August 9, 2018August 9, 2018

According to a new AARP survey of experienced workers, nearly 9 in 10 work for financial reasons, but approximately 8 in 10 either enjoy or feel useful doing their work.

Among those who plan to retire, over 1 in 4 plans to start a business or earn money in some independent way, such as a gig economy job. Given employers’ need for talent, it makes great business sense to hire experienced workers, as demonstrated by additional AARP research, the organization said.

“With rich work histories, varied experiences and expertise, older workers want to work, they’re ready to work, and they need to work,” said AARP Vice President of Financial Resilience Susan Weinstock. “More employers are looking for qualified candidates and experienced workers should have the opportunity to be judged on their merits, rather than their age.”

Saratoga PLAN Leads Community Effort To Remove Invasive Species From Fish Creek

August 9, 2018August 9, 2018

Greg Redling of Saratoga PLAN pulls water chestnut plants out of a section of Fish Creek.
Courtesy Saratoga PLAN

Saratoga PLAN recently led a community-wide effort to begin removal of an invasive outcropping of water chestnut plants on Fish Creek, the outlet of Saratoga Lake.

Over 36 volunteers participated.

Greg Redling, Saratoga PLAN stewardship coordinator, said, “It was great to get so much help protecting this beautiful resource, and everyone agreed we should do it again soon.”

Prior to the event, Capitol Mohawk Partner provided information about the invasive species, as well as a tutorial on the proper procedures for water chestnut removal. Kayak Shak generously provided boats for those in need.

Company To Build Battery Energy Storage Facility Said To Be Largest In The State

August 9, 2018August 9, 2018

The Saratoga County Prosperity Partnership has secured incentives to enable Key Capture Energy LLC to build a 20 megawatt (MW), utility-scale battery energy storage facility—said to be the largest of its kind in New York—at the Luther Forest Technology Campus in Malta.

The Mechanicville-Stillwater Industrial Development Agency in July approved tax incentives of nearly $650,000 to advance the Key Capture Energy project, which will interconnect to the adjacent New York State Electric and Gas Corp. (NYSEG) substation.

The board also approved a PILOT agreement sought by Key Capture Energy, though the company could have used a provision in the state tax code to avoid property taxes altogether, according to the Prosperity Partnership. The PILOT agreement will provide more than $160,000 to local taxing jurisdictions.

Developer To Construct ‘Affordable’ Housing Units On Washington Avenue Plot In Saratoga

August 9, 2018August 9, 2018

This is a rendering of an affordable housing development to be built by the Vecino Group. The company says rents will range from just under $700 per month to just under $1,300 per month.
Courtesy Vecino Group

By Maureen Werther

The Missouri-based Vecino Group is scheduled to break ground soon on an affordable housing development, named Intrada, just south of the Saratoga Amtrack station on Washington Avenue, adjacent to the U.S. post office.

According to Rick Manzardo, president of the Vecino Group, it will be the first affordable housing development built in Saratoga Springs in a long time. The company hopes to hope to attract people who work in education, hospitality and other industries with salaries that are not always adequate to afford pricier Saratoga Springs rents.

The Intrada apartment rents will range from just under $700 per month up to just under $1,300 per month, he said.

‘Residences On Union Avenue’ Is Newest Bonacio Project: Condos And Townhomes

August 9, 2018August 9, 2018

A ribbon cutting was held Aug. 7 at Residences on Union Avenue, a townhome and condo project 46 Union Ave. in Saratoga Springs, near Congress Park, downtown and Saratoga Race Course.
Courtesy Bonacio Construction

Sonny Bonacio and his team at Bonacio Construction celebrated on Aug. 7 the official launch of their latest condominium project, Residences on Union Avenue.

Bonacio Construction, in conjunction with Norstar Development USA, LP, created the project at 46 Union Ave., in the location of the former Moore Hall, which was a Skidmore College dormitory.

The main building features an exterior reminiscent of traditional Saratoga charm while the interior affords luxurious living and modern amenities the company said. The five-building property has a parking garage.

Dreyer, Boyajian LLP Opens Law Office In Saratoga Springs, Manned By John Dowd

August 9, 2018August 9, 2018

John J. Dowd, partner at Dreyer Boyajian LLP, Attorneys at Law.
Courtesy Dryer, Boyajian LLP

Dreyer, Boyajian LLP, attorneys at law, announce the opening of a new office in Saratoga Springs. The firm’s new office will be located at 18 Division St., Suite 306.

John J. Dowd, a partner at Dreyer Boyajian and native of Saratoga Springs, will serve as the resident partner for the office. The office opened June 1.

Dreyer Boyajian LLP chose to open a new office in Saratoga Springs in order to create a presence in one of the fastest-growing cities in New York state, the firm said. “The mission of the firm’s Saratoga Springs office is to provide the Saratoga Springs community and surrounding communities with the same high level of legal representation that Dreyer Boyajian, LLP has provided to its clients in the Capital District for the last 30 years,” officials said.

NYS Sexual Harassment Requirements for Employers: Don’t Just Comply Because It’s the Law, Comply Because it is the Right Thing To Do

August 9, 2018August 10, 2018

Jim Marco, president, principal consultant, Saratoga Human Resources Solutions Inc. Courtesy Saratoga Human Resources Solutions Inc.

By Jim Marco

How does the New York state sexual harassment policy and training rules for employers change the workplace?

Truthfully, it depends. Good companies have had policies, investigation procedures and training programs in place for decades. That’s right, decades. But the landscape has changed, so employers, even the ones with good policies and programs, should take this opportunity to re-commit to a workplace free from unlawful discrimination and harassment.

They should communicate clear expectations to their employees about how staff are expected to behave, how they are expected to engage and communicate with each other, and how they are expected to problem solve when an issue does arise so we are not escalating what may be a simple misunderstanding. Civility, mutual respect and clear communication can go a long way and truly become fundamental pillars of an outstanding workplace culture.

Business Report: Hard Drive Destruction Myths Debunked

August 9, 2018August 9, 2018

Rob Shauger is director of sales and development at ConfiData.

By Rob Shauger

When it comes to hard drive destruction there are a lot of questions and misinformation out there. This misinformation leaves a lot of personal data vulnerable.

In fact, a recent data recovery study showed that even after attempts to wipe drives, data could still be recovered. The study purchased 200 used hard drives on eBay and Craigslist and found that 67 percent of those drives still held personally identifiable information. Some 11 percent of those drives contained sensitive corporate data.