SARATOGA SPRINGS — The Adelphi Hotel, one of Saratoga Springs’ most historic properties, has been named to the 2023 Forbes Travel Guide Star Awards.
Adelphi general manager Helen Watson said the honor “validates everything we’ve been striving for.”
“All the hard work and dedication from the staff that they’ve put in for the past several years is really paying off and making a difference,” said Watson. “This is great incentive for the staff to keep up the good work, and to build on that.”
Forbes judges properties for the Travel Guide based on over 900 points of “objective criteria,” according to the Forbes website. Anonymous inspectors stay two nights at each hotel that Forbes evaluates. The rating system has a special emphasis on service, the site says.
The Adelphi has a storied history in the city, first opening in 1877. Watson said the hotel today focuses on “making an overall experience” for its guests.
“Touching all five senses with the guest, and really going above and beyond and making them feel like they’ve had the most amazing stay,” Watson said.
The honor is “a great way to start the year,” for the Adelphi, said Watson. The hotel will be adding 33 additional rooms this year, Watson said, more than doubling the current 32-room capacity. The hotel is also planning to construct 80 condominium units, which will have full access to the hotel’s amenities, said Watson.
The hotel was restored by the current ownership group in 2012, with Watson saying this was done “because the hotel is for the community.”
“It was really important for us to welcome the community in, and let them know that we did this for the community,” Watson said. “This is a really unique town, and the collaboration that the businesses do to boost not just their own business, but Saratoga itself. Because if Saratoga does well, we all do well.”
Gambling is in vogue right now. Thanks to the increased prevalence of online betting, bettors wagered a staggering $16 Billion on Super Bowl 57. After a rough 2022 in financial markets, investors are finding it hard to tell the difference between their 401(k) and their online sportsbook account. I cringe whenever I hear somebody say that the stock market is like a casino. Sure, the green and red numbers and the up and down arrows make it *feel* like a casino, but there is one key difference (besides free drinks): the odds are easily in your favor with your investments. Let me explain.
Holding money in stocks is a bet on the ability of humans to innovate and on the ability of corporations to turn those innovations into profits. If you hold them long enough and diversify sufficiently, the odds are high that you will turn a handsome profit. There are two key phrases in that last sentence: “long enough” and “diversify sufficiently.” Using the S&P 500 as a proxy for the market, over 95% of rolling 10-year periods are positive. Translation: if you sit tight, chances are your money will grow in the next decade. The problem is ten years can feel like an eternity, and emotions like fear and greed tend to throw us off. If you think humans will stop innovating, that is your right, but I’ll take the other side of that bet every time.
Bonds are less uncertain than stocks, but as we saw last year, that doesn’t mean they can’t go down in value. Investing in bonds is like playing the bank to companies or governments. You lend money to the borrower for a stated period of time, they pay the interest along the way, and then they give your money back at the end. The greater the probability that the company won’t be able to pay you back, the higher the interest rate you will require. Stated that way, bonds should be boring, but last year felt like a casino. To explain why let’s assume you bought a $100 bond paying 2% in 2021 with the expectation of getting your money back in 2031. In that scenario, you are on schedule to earn 2% on your investment unless you need to sell before 2031. If you wanted to sell last year, the price someone would have been willing to pay went down for various reasons. If you held and are still holding, you are still on track to earn that initial 2%.
As retirement funds have shifted from pensions to 401(k) plans, the onus is on the individual investor to make prudent investment decisions. It is a big responsibility! Without sounding too dramatic, the fate of one’s retirement depends on their ability to make good decisions throughout their life. Thinking that the market is a casino, or a zero-sum game with the odds stacked against you, is a precursor to some potentially harmful decisions. Working with a financial advisor can help cut through some of the noise and provide you with clarity.
David Rath, CMT, CFA, is the Chief Investment Officer at Continuum Wealth Advisors in Saratoga Springs. Continuum Wealth Advisors, LLC is a Registered Investment Advisor registered through the Securities and Exchange Commission.
Paramount Development principal Tom Settle (left) and Wilton Mall general manager Mike Shaffer (right) discuss plans to construct 296 apartments and 88 townhomes on the property of the Wilton Mall on Tuesday. Dylan McGlynn photo.
WILTON — Officials from the Wilton Mall, Macerich, and Paramount Development met on Tuesday to discuss proposed plans to add nearly 400 apartments and townhomes on the site of the mall’s former Bon-Ton location.
The group included Wilton Mall General Manager Mike Shaffer, Tom Settle, Principal at Paramount Development, and Tawney Farmer, Macerich Vice President of Development. Shaffer said the project can be a “catalyst” for attracting new uses to the mall.
“The project is really about economic revitalization, and ensuring that we continue to contribute to the Town of Wilton the way we have historically, and also continue to make this a vibrant shopping center with mixed-use and new uses that are essential in today’s environment for malls of our nature,” said Shaffer.
First proposed to the Wilton Town Board in April 2022, the project would see the development of 296 apartments and 86 townhomes in place of the former Bon-Ton location.
Bon-Ton closed in 2018, and has been vacant since. Wilton Mall partnered with Paramount Development in May 2021, and began developing plans for apartments.
Roughly half the apartments will be one-bedroom, said Settle, while townhomes will primarily be two- and three-bedroom units. The plans also include a clubhouse between 12,000 and 20,000 square feet, and Settle said the group has looked into amenities such as an indoor pool.
“We want to do as much as we can afford to do,” said Settle. “We’re going to do what everybody else does, and then some.”
Surface-level and garage parking will be available to residents. Settle said the complex would have a gated entry that residents can access via their phones, and other smart features. Rent is expected to begin around $2,000, Settle said.
Tawney Farmer, Vice President of Development at Macerich, said they envision the mall becoming a “town center.” The goal is to attract more entertainment, dining, and retail spaces back to mall property.
“It’s going to drive traffic to the property, not just to shop for retail, but for restaurants, and for entertainment, and visiting people who live here,” said Farmer. “We’re trying to create a place where the community wants to be, not just to shop.”
“And what better amenity to a residential community than having shopping and restaurants just outside your door?,” Shaffer added. “The project will also be pedestrian friendly, offering convenient access to Wilton Mall via sidewalks and green space.”
Shaffer said the mall’s first venture into mixed-use was when Planet Fitness and Healthy Living Market opened in the former location of J.C. Penney in 2012 and 2013. More recently, Saratoga Hospital moved parts of their operation into the former Sears location in 2020.
“As we continue to bolster our property for success, it’s important once again we look beyond the traditional plans to replace a former anchor that has been vacant for some time,” said Shaffer.
Shaffer and Farmer said there is general interest in the area, but that many companies are seeking visibility on Route 50.
“There’s not a lot of vacancy on Route 50, and there’s interest in this market,” Shaffer said. “We need to be able to offer some additional reasons besides the traditional mall to attract that interest.”
“Everybody wants that Route 50 frontage, they want that visibility,” added Farmer. “But if we can create a destination, it’s a different story. … There are national restaurant chains interested in the area, but they want to be on Route 50. The signage is one of the things too that we show in the renderings.
“In the future, we can do that to get them the Route 50 visibility, but they’d be in the property, either in the parking lot or in the mall. So we need this first domino to fall, and then we can hit the retailers hard and get the interest back.”
The project will operate in two phases, Shaffer said. Phase one would consist of the apartment developments, the demolition of Bon-Ton, and “some additional green space” and landscaping between the apartments and the mall. The townhomes would be constructed as part of the second phase.
Shaffer said infrastructure for the plans are already in place due to the mall. He said a traffic study did not identify additional impacts to area traffic, with Farmer saying the mall was, “built for traffic.”
“It’s built in close proximity to the highway,” said Farmer. “It’s built to handle a lot more traffic than it’s getting, that’s for sure.”
Shaffer said he has served as the mall’s general manager for 11 years, and spent 30 years in retail prior. He is a resident of the Town of Wilton, he said.
The Town of Wilton Planning Board voted unanimously to recommend approval of the project to the Town Board, provided they show renderings of the project. An update on the project, including the renderings, will be presented at the upcoming board meeting on March 2 at 7 p.m. at 22 Traver Road in Gansevoort, with the group saying they are hoping the board will set a public hearing.
More information on the project is available at reimaginewiltonmall.com.
SARATOGA SPRINGS —Saratoga Hospital Community Health Center (CHC) physician assistant Samuel Halajian, MPAS, PA-C, traveled a circuitous pathway to his career. Pivoting away from his success in film and TV production, Halajian now renders medical care both in a clinic setting and in the street to those with medical needs, regardless of their ability to pay.
A Briarcliff, New York, native, Halajian, a husband and father at 38, describes his early life as “an artist, always.” But even as a student at New York University, he found himself drawn to train as an emergency medical technician (EMT) and, once certified, he volunteered in Ossining, New York. Soon, despite making a professional mark in visual media, he yearned for more responsibility in medicine and became a paramedic, “physically and emotionally demanding work,” he recalls, in busy urban settings, like the Bronx, where he was exposed to a range of serious and stressful situations and problems, including violence, accidents, and injury.
“I loved it, but it was wearing me down,” says the Ballston Spa resident. “I couldn’t imagine doing it for 30 or 40 years. Then I learned about opportunities as a physician assistant, and it was definitely attractive to me. I knew I wanted to be in medicine, but I didn’t want to spend years and years in medical school. Being a P.A. was the answer.”
A physician assistant (P.A.) is a mid-level health care provider who may diagnose illnesses, develop and manage treatment plans, prescribe medications, and serve as a principal health care provider.
After researching his options, Halajian discovered that one of the best P.A. programs in the United States is through the military. In exchange for his extensive medical education, he committed six years of service after completing the training to the Army Reserves; he has two left to go.
“It’s definitely not ‘free’ schooling,” he points out, adding, “The training was fantastic. The Army program is among the top 10 among about 300 in the United States.” Last year, Halajian was temporarily deployed as an Army medical officer to Eastern Europe.
“I love my work for both the Army and the Saratoga Hospital Community Health Center,” he enthuses, “The people I work with in health care are passionate about what we’re doing.”
Although anyone is welcome to use the Community Health Center, Halajian notes that he works extensively with the homeless population, both in the office and in the field, utilizing his special skills in addiction medicine and mental health.
“I go into motels, into the streets, the parking lots, the woods – where the homeless are, I go,” he says. Halajian explains he is part of “street outreach initiative” that relies on a network of partners, including Captain Community Services (the lead agency), Shelters of Saratoga, The Salvation Army, Healing Springs, and RISE Housing and Support Services. Other involved ar agencies include Veterans & Community Housing Coalition, Inc. and Wellspring, which serves individuals experiencing domestic violence. He is part of a weekly video conference with the network partners.
Halajian’s goal in the field is to establish trust with unhomed individuals via consistent, direct engagement outside the office, including to diagnose and treat acute and chronic medical concerns, including splinting a limb, binding a wound, diagnosing diabetes, COVID-19 testing and much, much more. The job is a perfect fit for Halajian, who is dedicated to working with mental health and addiction issues often found in this population.
“It’s a chicken-and-egg question,” Halajian says. “Do people become homeless because they are alcoholic or have mental illness, or does being homeless lead people to drink?” Either way, he tends to those who are struggling. “There are routine places I go,” he notes, “or I might get a call to check out a location or a specific person. I bridge the gap between the doctor’s office and the emergency department, because that’s often where the homeless end up. However, they may get immediate care and then not follow up once they’re on their own again. With me, there’s trust built over time and they’ll hopefully come to the office for help or see me again in the street. Not all, not everyone I see, obviously, follows up, but I would say I now have more than 20 office patients who are unhomed. The situation is improving.”
He says, “There is much I can do in the field and in the office, write prescriptions, order tests that people need to get into detox programs and expedite the results, interact with a case manager from social services, and more.”
Some homeless people depend on Medicaid or Medicare, acknowledges Halajian, but some, such as those who live in a woods encampment, for example, have commercial insurance through a job. Also, social services, disability insurance, and other supplemental income programs are set up to help fill prescriptions.
“When we combine our inter-agency skills, the care team is very resourceful at getting people what they need with discretionary funds from drug companies, for example,” Halajian points out.
Halajian is quick to point out that there is “no one response or reception” to his presence in the field. “It depends on the individual, or even a mood that can change day to day. But I am not there to judge, I am there to love and help them all.”
Some of the homeless want nothing to do with Halajian and his services, he admits, but he rarely gets “right down to business. We do a little dance of getting to know each other to build trust. Some of these people, when sober, are intelligent, funny, and warm. I love talking to them, whether we’re in the street or the office. More and more, enough of them know who I am to begin to believe I’m there to help. There are folks I encounter who start out very suspicious, people with mental illness, and they’re really challenging to treat, they’re very guarded, but the vast majority are willing to engage and want me to be their provider.”
Halajian observes that there are fluctuations in the volume of the homeless population and that “They seem to come in waves – in the summer there are many homeless near the train station in the woods, but then some end up in jail or in the hospital or another mental health program, and many are gone when it gets cold.”
“Everyone individual is different,” underlines Halajian. “There is not one single factor that drives people into the street; if we talk to 50 people, we get 50 stories. Looking at human beings as ‘trends’ is not useful. What is productive is asking what we can do.”
Halajian disagrees with those who claim there aren’t enough services for people who are unhomed. “We have services, what we also have are barriers to access, for example, a lot of people don’t have transportation to service agencies or doctors and that’s the problem: barriers to care.”
He also says that mental health problems are another barrier, as it may make patients non-compliant. “If I see someone with high cholesterol and treat them, but they insist on living on pizza and hamburgers, that’s not my fault,” he points out. “We can offer assistance, but we can’t make people accept it. But, it’s really important not to paint the homeless population with a broad brush. While a lot of my patients have the tragic disease of alcoholism, we do have some success engaging them for detox, mental health services, and employment. It helps to find out about the individual’s unique history and how he or she got to a place of being homeless and alcoholic, or to abusing other substances, to support them in making good progress. I put my hand out – it’s up to them whether to take it. Sometimes, people with addiction issues make bad choices. Unfortunately, that’s when they become visible to the public. I try to give people the help they need so they can do better, do well.”
Halajian notes that the Community Health Center is a patient-centered medical home which offers behavioral health, addiction medicine, dental, and primary care services.
“This is complex work,” Halajian says. “We have to keep these people safe. Nobody should freeze to death in Saratoga – I think we can all agree on that. People get uncomfortable and unhappy with the idea of unhomed people being around them, so I’m grateful that my role is focusing on health care, but I can’t do it all by myself. That’s why we have a network of partners. We are there for each other and the people we serve. I get to build all these relationships with people who live with barriers. I get to talk to people about how to take care of themselves – and that’s a privilege. There’s a lot on my plate, but it makes me grateful to have a home, food on my table, and a family to love.”
SARATOGA SPRINGS — Saratoga Arms, an independently-owned hotel in downtown Saratoga Springs, has been ranked the top hotel in the city in the U.S. News & World Report’s 2023 Best Hotels Ranking.
“It’s always nice to be recognized by the industry, by guest reviews, and to see that they still love coming to Saratoga and to Saratoga Arms,” said owner Amy Smith.
The U.S. News & World Report ranks hotels with a rating of 3.5 stars or higher, judging them on their hotel class, guest ratings via TripAdvisor, and awards and recognition received, according to the U.S. News & World Report website.
Smith and general manager Rachel Boggan said Saratoga Arms has been able to stand out due to their guest service. Smith emphasized that the hotel looks to “curate your experience for you.”
“We see ourselves as ambassadors to this area,” Smith said. “Really, all we need you to do is make a reservation with us, and we will handle most anything that comes our way that you want to do in this town.”
Smith said that while getaways can take effort to plan, Saratoga Arms looks to take care of this aspect for guests to allow them the most relaxing experience possible.
The hotel seeks to provide people “with an experience,” rather than simply a room, Smith said. This includes a calendar of weekend experiences, which Boggan explained as fully-planned agendas centering around popular local themes, such as Saratoga Beer Week.
“All the guests need to do is make their reservation, and they are brought through the entire agenda that we have pre-planned in advance for the guest,” said Boggan. “So anywhere from ten to 15 rooms will all be kind of going through this experience together.”
Part of the Saratoga experience that the hotel offers is contained in the building itself. Saratoga Arms’ property was constructed in 1870, Smith said, and still contains many historical elements as well as modern amenities.
Both Smith and Boggan expressed their love for the Saratoga community, saying their goal is to help their guests have positive experiences in the city.
“When you love a community so much, you want to show it off,” said Smith. “I have a wonderful backdrop of a place where people can stay, and then experience all those wonderful things that this community has to offer. I take that very seriously, and I’m also very honored to do that for people.”
Scarlet Clement-Buffoline. Photo provided by Saratoga Hospital.
SARATOGA SPRINGS — Saratoga Hospital has appointed Scarlet Clement-Buffoline as the Vice President of Operations for Ambulatory and Physician Services.
Clement-Buffoline has more than two decades of administrative experience in positions of increasing responsibility at Capital Region hospitals. Most recently, she served as the executive director of Saratoga Hospital Medical Group, the hospital’s multidisciplinary practice.
In her new role, Clement-Buffoline will have oversight of the entire Saratoga Hospital Medical Group, as well as all outpatient services, including imaging, radiation oncology, regional therapy centers, and urgent care locations.
SARATOGA SPRINGS —Sustainable Saratoga has announced Kelsey Trudell as their new Executive Director.
Kelsey is a South Glens Falls native who moved back to this area after spending several years in Phoenix, AZ. In Phoenix, she worked for the Arizona Sustainability Alliance, an organization with many similarities to Sustainable Saratoga. Kelsey has a BS in Environmental Science and Geology from SUNY Oneonta and a post graduate credential in Environmental Leadership from SUNY College of Environmental Science and Forestry.
Kelsey is ready to put her experience and energy to work: “I’m so excited to join Sustainable Saratoga. I believe that a grassroots approach to sustainability is the best way to make a positive impact in our community.”
SARATOGA SPRINGS —In the month of January, The Salvation Army of Saratoga Springs served 177 individuals through the Food Pantry, gave out 80 articles of clothing, provided showers for 40 individuals, and were able to serve a hot breakfast for 156 individuals. The Salvation Army is very fortunate to be able to serve the community of Saratoga through the various services offered. They are also looking for any business or agency that would like to have the opportunity of sponsoring the breakfast program that operates Tuesday-Thursday every week. For more information, please contact The Salvation Army located at 27 Woodlawn Ave in Saratoga Springs or by calling 518-584-1640.
SARATOGA SPRINGS — Druthers Brewing Company is expanding its reach again, signing a lease to take over operations at 550 Waterfront on Saratoga Lake.
John Boyle, managing partner at 550 Waterfront, said the lease runs for 10 years. He called it “a nice, synergistic opportunity” for both companies. “It really is a merging of the best of both of our companies,” Boyle said.
Boyle said that Druthers are “phenomenal operators,” saying they bring strong infrastructure and expertise to the restaurant. He said the dining experience will be “very similar in terms of the vibe.”
“We’re going to have the lakeside dining vibe that we’ve always had,” said Boyle. “75 to 80% of the food that is going to be served there will be different than the other typical Druthers fare.”
The menu will remain similar to past 550 Waterfront offerings, and also feature some new items, Boyle said. He named fish and chips and lobster rolls as two examples of items that will remain on the menu.“
I mean, there’ll be definitely some new items, some new, fun items on there,” said Boyle. “But there’ll be the standard stuff that people got used to.”The restaurant will also offer Druthers’ selection of beer, with Boyle saying they will offer “the whole Druthers beer package.”
The restaurant is targeting mid-April for an opening, which Boyle said is in line with last year’s opening date. The staff will remain intact, and Boyle emphasized that not much will change in terms of the customer experience.“
It’s going to be very, very similar,” said Boyle. “Besides the fact that you’re going to have Druthers beer on tap, I think the experience is going to be very similar to what it was previously.”
Helios CEO and co-founder Sean Austin. Photo provided by Helios Life Enterprises.
SARATOGA SPRINGS — Capital Region-based startup Helios Life Enterprises continues to make waves, earning an invitation to the 2023 South By Southwest Conference and Festivals to showcase technology that can analyze voice tones.
Helios CEO and co-founder Sean Austin said the invitation is “the biggest nod” the company has received, saying roughly 800 companies apply before the field is narrowed down to 40.
“Just being in that company is totally humbling,” said Austin. “It’s a very large platform for us to get out there, an international platform. Totally excited that we’re in the AI category, because that is right now probably the hottest type of startup.”
The honor comes on the heels of some very strong months for the company. Helios has recently presented at the TechCrunch Battlefield 200 and the Eagle Alpha Alternative Data Conference, and Austin said that more hedge funds are beginning to test Helios’ data and products.
“All of last year, we had, I want to say six total. We’re almost at that right now to start this year,” Austin said. “The fact that we will probably edge last year’s total account by mid-February or the end of February is a pretty good signal that we’ve elevated our brand.”
Helios’ technology can analyze audio and voice tones to find a relationship between the words that are spoken and the tone in which they are spoken with.
“If you win an award, you can say words that don’t actually sound super positive, like, ‘Oh my God, I can’t believe it,’ like you’re in disbelief. That’s made true by voice tone,” explained Austin.
Helios will showcase its technology as part of the Artificial Intelligence category, one of eight different categories at the South By Southwest Pitch competition. Austin said the company will have roughly three minutes to pitch.
The first part of the pitch will consist of a personal story that connects to Helios’ work, said Austin.
As a high school senior, Austin suffered a knee injury during a state semifinal football game. Austin said he told his father, “This is a horrible moment,” and his father replied, “Everything’s going to be fine.”
“You can say that phrase in so many ways with voice tone, that it means so much to someone,” he continued. “Our story ties into that so tightly, this whole concept of emotion, or meaning, or understanding, that can be driven from something that is innately human.”
The second part of the pitch will discuss “the reality of the company,” Austin explained.
“There’s some major, major hedge funds on the planet seeing value. There’s more than ever testing it, and we’re sure a good portion of them will be able to apply it to their portfolios,” said Austin. “We see a trajectory now that’s becoming more and more real, which we’ve always believed in. But being able to tell that, because we’ve had five or six more months than TechCrunch, just adds a whole reality to it.”
South By Southwest is also assisting Helios and other companies with their pitches, assigning each of them a pitch coach.
“That is a weekly engagement that South By Southwest is supporting,” Austin said. “I’ve actually already started that. I can also openly say that I’ve not had a pitch coach before, so I think it’s very helpful to have that feedback.”
The opportunity for Helios to pitch at events like South By Southwest helps make the company “more and more prominent,” with Austin saying he believes Helios will hit an inflection point in 2023.
“I believe fully that 2023 is the year where that inflection point happens,” said Austin. “I think people are going to jump on board and use it. We’ve spent so much time making it real, we’re working with some very top universities on the research this year. It means everything to us, because if we hit that inflection point, we can proliferate it into space.”
The company is also still in the process of crowdfunding, Austin said. Helios, with the help of a company called Fairmint, is offering the opportunity to buy shares of the company for a minimum of $500. Shares are available at helioslife.enterprises.
“It’s a way that you can just buy shares through Fairmint for us,” Austin said. “We’re a private company, of course, not on the New York Stock Exchange or anything. But it makes it very accessible.”
Austin said Helios has “hundreds” of local investors and are hoping for hundreds more. He said the Capital Region has meant a lot to the company, noting many of Helios’ employees are longtime locals. In addition to Austin, chief revenue officer Kevin Vanderwarker is an area native, and co-founder Dr. Gerwin Schalk attended Rensselaer Polytechnic Institute.
“It means a lot,” said Austin. “It means a bunch to use that knowledge and push it forward, and have a big impact, and show that you don’t have to be in New York City to make a startup and grow something that’s really impactful.”
