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Former Pavilion Grand Hotel In Saratoga Springs Transitions to Perennial Boutique Apartments

Artist rendering provided by Perennial.

SARATOGA SPRINGS — Aker, a Hudson Valley-based owner-operator, has announced the transformation of the Pavilion Grand Hotel in downtown Saratoga Springs to a boutique apartment community called Perennial. 

The property at 30 Lake Avenue, previously a hotel before transitioning to extended stay residences, was purchased in December 2021 by Aker from Prime Companies. 

Located in the heart of downtown Saratoga Springs, Perennial is just a short stroll away from a mix of local shops and restaurants and only minutes from Saratoga’s choice attractions, the Saratoga Race Course and Saratoga Performing Arts Center.

Comprised of 48 residences, Perennial offers pet-friendly living spaces including studios, one- and two-bedroom residences and penthouses. Perennial’s duplex penthouse apartments are designed for gathering, featuring open layouts with large private terraces, generous kitchens and separate wet bars. 

The “Perennial” name is inspired by the year-round resident, an active participant in the community and a frequent consumer of local businesses and culture.  

“Delivering this transition has been an exciting undertaking for us,” said Aker Senior Vice President Tina Ladd. “The unique history of Saratoga Springs and the 19th century Pavilion Hotel – this property’s namesake – were inspiring elements to work with. It is our goal with all of our projects to engender a sense of community and encourage resident engagement.”

Aker’s vision for Perennial is to inspire its residents to “write their Saratoga Story, embrace the City’s downtown energy, stay in the know on the new and the interesting and meet friends, collaborators and creators.” 

Perennial’s apartment interiors and common areas will receive a substantial upgrade as part of the rebranding. The existing fitness center will be expanded and refurbished with new equipment; the entry lobby will be remodeled to accommodate residential living and include a café amenity; hallways will be redesigned; and the roof-top building amenity will be redesigned to include both interior and outdoor entertaining areas.  

Common area improvements are currently in progress and newly renovated apartments are now available for lease.

Rood & Riddle Equine Hospital Constructing New Barn

A look at the inside of an existing barn at Rood & Riddle Equine Hospital. The new barn will ‘mimic’ the appearance of this barn, said practice manager Jennifer Van Alphen. Photo by Dylan McGlynn.

SARATOGA SPRINGS — Rood & Riddle Equine Hospital is growing, and its operations are expanding along with it.

The hospital is currently constructing a new barn, which will allow Rood & Riddle to increase its capacity and offer higher-quality treatment, among other improvements.

Practice manager Jennifer Van Alphen said the hospital is growing with the area’s population of horses. The new barn will feature eight stalls and is being constructed in a similar style as a pre-existing barn on the property. 

Van Alphen said construction will “hopefully” be finished between the end of February and mid-March.

“As long as weather cooperates and everything like that, it should be the end of February, middle of March, we’re hoping,” said Van Alphen. “We’re a little bit further behind than we would’ve hoped, but we will definitely be ready for the summer, so we’re excited about it.”

Shannon Hinton, a surgeon at Rood & Riddle, said they are excited to be better equipped to treat horses.

“The fact that we’re able to expand our facilities reflects our dedication to the horse community in this area,” said Hinton. “I think it just represents the fact that we’re happy to be here, and excited to stay. We’re happy that the horse community trusts us with their horses.”

Van Alphen said the new barn will replace a temporary structure the hospital had been using during summers.

“This (barn) will basically replace having that temporary housing, so we have more permanent structure,” said Van Alphen. “The summer time, for the most part, is when we are busy, because there are so many horses in the area, and so many come into us.”

“That barn is also nice because it has the capability to have two stalls that have hoist systems in them, so we can manage neurological horses, or downed horses, or horses with injuries that require them to be managed,” added Hinton. “That will be quite helpful.”

The stalls are roughly 12 feet by 12 feet, Hinton said. Each has its own drainage system, with concrete floors covered by mats. Stalls also have their own windows, as well as two exit points. Hinton added that the sling stalls have larger doors for easier access.

The additional capacity will also help Rood & Riddle increase biodiversity, Van Alphen said, by having to flip over stalls less frequently.

“I’m not saying that we were limited on that, but we have space so each horse that comes in can maintain in that one stall for the duration of its stay,” Van Alphen said. “Sometimes what was happening was we were having to move some horses around to make room for something that would triage above that horse.”

Hinton said it is important for the hospital to be able to accommodate as many cases as possible, saying there are not many other “full-service” equestrian hospitals in the area.

“I think it’s just a reflection of us being able to better accommodate the horse community and be able to take in more cases and do more work on different types of horses,” Hinton said. “There’s not a ton of referral clinics in this area, so sometimes people are making a long drive to come to us, and it’s important we have appropriate space and facilities to manage those cases.”

Rood & Riddle has two surgeons and an internal medicine doctor on staff, in addition to six ambulatory doctors that travel into the field, Van Alphen said. 

Van Alphen said that the hospital is growing as a whole, seeing an increase in staff as well as facilities.

“With our growing barn, our staff and team have been growing as well,” Van Alphen said. “We’re growing as a whole, which is definitely a really good sign.”

The Grieving Families Act: What Is It and What Happened?

This week, Governor Hochul vetoed the Grieving Families Act, which had passed the Senate and Assembly and was awaiting her signature. The Grieving Families Act would have expanded New York’s wrongful death statute by, most significantly, allowing a family member to recover for their emotional distress caused by the loss of a loved one.  There are different pieces to this proposed legislation, but this article will focus on emotional distress damages.  

Governor Hochul has expressed her support for the emotional distress piece of the Grieving Families Act, but had proposed several amendments – including exempting medical malpractice cases altogether – which were not agreed on prior to the deadline to sign the legislation. 

What is a wrongful death case?  When someone dies because of someone else’s negligence or malpractice, there are two potential claims.  One is called a survival action which is the claim that belonged to the deceased person and, literally, survives his or her death.  The damages in a survival action are typically the pain and suffering experienced by the decedent prior to their death.  The second is the wrongful death action.  The wrongful death action seeks to recover the financial contribution the deceased person made during their life, which we call pecuniary loss.  This can include not only someone’s actual salary but, for example, your spouse’s household contributions and support.  New York is in the minority of states allowing recovery only for pecuniary loss. 

What is missing?  The ability of a loved one to recover for their emotional distress resulting from the negligent death of their spouse or child, among others.  This is perhaps most glaring in the case of a child.  Young children are not contributing financially to the home and certainly a child suffering prior to their death makes a worst case scenario even more horrific.  But under the current law, in the scenario of a child who dies instantly, a lawsuit would have very little financial value due to the limited damages available.  And when a lawsuit has very little financial value, the time, expense and risk of moving forward can begin to outweigh the benefit. 

Now, some may say, no amount of money or lawsuit would bring back a loved one so why should we care about this?  Well, the civil justice system serves various important purposes in our society, including as a deterrent to unsafe and reckless behavior as well as a means to obtain information about what was done wrong and what can be done differently in the future.  

We also have the ability to recover emotional distress damages in other contexts.  For example, you can recover for your emotional distress if you lose your job, and those damages can be significant.  For those who are worried that there is a risk of gigantic verdicts putting defendants out of business, while it is true that New York does not have a cap on damages, the law does have other mechanisms to keep this in check.  In an employment lawsuit, you have to prove your emotional distress, and to obtain a significant award, you would demonstrate a severity typically supported by medical records. If your proof does not match a jury’s award, it will often be reduced by the Court as excessive. 

We’re not here to say that this Act is perfect, or that no valid areas for improvement were identified.  And we’ll leave it to the Governor and the Legislature to duke it out over when and whether those tweaks should have already taken place.  But we do hope that the addition of this element of damages is achieved sooner rather than later because we know we’re not alone in believing that someone’s life is worth more than just their salary. 

Spa City Digital and Five Towers Design Announce Merger as Five Towers Media

Chad Beatty (left), owner/publisher of Saratoga TODAY Newspaper, Brad Colacino (middle) and Michael Nelson (right), co-founders and partners of Five Towers Media.

SARATOGA SPRINGS — Five Towers Design Company and Spa City Digital have officially announced a merger of the two companies, forming Five Towers Media.

Five Towers Media will combine the offerings of both companies, providing digital marketing and design in a variety of spaces. The company will offer website design, SEO services, social media management, videography, graphic design, branding services, digital marketing, and more for clients. Five Towers Media also owns print publications, online news platforms, and podcasts. 

Co-founders and partners Michael Nelson, Brad Colacino, and Chad Beatty said the merger came about as a way for both companies to grow, expand, and improve their offerings in the community.

“We were both at a point where we were looking to expand, and we both have very similar business offerings,” said Colacino. “We have very similar views on how to conduct business, and goals for where we wanted to take our business. … It just seemed like a really good complement of skills.”

Nelson said that Spa City Digital was looking to grow, and said that Five Towers and Colacino were a “perfect fit” for the company’s goals.

“From our standpoint, growth over the course of the next one to two years was going to be challenging without Brad,” Nelson said. “His personality, his skills, and his company were a perfect fit.”

The merged company will be known as Five Towers Media, with Nelson saying the name change reflects the long-term goals of the company.

“We have plans on moving into Vermont and Florida very soon, with an overall long-term objective of being all across the country,” said Nelson. “Our brand, Spa City Digital, would not allow that type of growth into other markets, because it is such a geographic name. The rebrand will make for a seamless transition into new markets.”

Nelson, Colacino, and Beatty said that the merger will make things more efficient and convenient for their clients, compressing all of their offerings into one location. 

“From a client standpoint, they are going to see an increase in deliverability from us,” said Nelson. “Not only are we going to be able to do what we were doing, but we’re going to be able to do it better, and we’re going to be able to do it faster.”

“If (clients) wanted, for instance, Google ad campaigns or email marketing, I would send them over to Mike before,” Colacino added. “Well now, I don’t have to do that. Now, we’re one company. It just integrates things a little more cleanly, and we can provide those clients with an expanded offering, more opportunities.”

Colacino said this will make things more convenient for clients, and provide them with additional methods of growing their businesses.

“We have print marketing available with the news publications, we have these marketing automation email campaigns we can do,” said Colacino. “We can do online paid ads, things like that, all under one roof, with a single bill.”

Nelson, Colacino, and Beatty also stressed the importance of building connections with their clients, noting that they work with many small businesses in the local community. 

“It’s always going to be more important for us to form relationships than make a sale,” Colacino said. “We want to form long-term partnerships with them, and help them grow. It’s a case where the rising tide floats all ships.”

Five Towers Media is located on Route 50 in Saratoga Springs, sharing a building with Saratoga TODAY Newspaper. Beatty, owner of Saratoga Publishing, is the publisher of Saratoga TODAY.

“It really is a perfect fit,” said Beatty. “Our teams work side-by-side and form a symbiotic relationship. As the old Chinese proverb states, ‘None of us is as smart as all of us.’”

St. Helen Of The Cross Old Catholic Chapel & Ministries Now Holding Services At New Ballston Spa Location

Photo by Dylan McGlynn.

BALLSTON SPA — A new church has established its roots in Ballston Spa, featuring a congregation led by an area native.

St. Helen of the Cross Old Catholic Chapel and Ministries held its first service on Jan. 8. The Very Reverend Canon Richard Russo, a member of The Society of Mercy, said the location “literally just found me.”

“I could immediately feel a special connection with this space,” said Russo.

The church is located at 20 Prospect Street, Suite 214 in the Chocolate Factory. Russo said he worked in other parishes for nearly 30 years, including 10 years in St. Louis. But now, Russo is leading his own congregation near his hometown.

Russo said members of the church refer to themselves as ‘Old Catholics’, saying they are not under Roman jurisdiction.

“I am not a diocesan priest. In fact, we’re not Roman Catholics in the strict sense,” Russo said. “We are what’s called ‘Old Catholics’, which means that we pray for the Pope, we give what we call our paternal affiliation to the Pope. But we’re not directly under Rome’s jurisdiction.”

Russo said The Society of Mercy believes all people deserve mercy, saying he welcomes all to attend his services.

“As a priest of The Society of Mercy, it’s my obligation to show mercy to you, and to you, and to someone sitting on the street, or whoever,” said Russo. “So a lot of people that come to us are what we call, kind of, fringe Catholics. ‘We sort of believe this, but maybe not this.’ We welcome them, and we say, ‘Let us explain to you what we do, why we do.’”

He said the main differences between St. Helen of the Cross and the Catholic Church are the traditions. Russo said Old Catholics have kept traditions that were “in the church for hundreds and hundreds of years.”

The Church’s altar also faces away from the congregation, with the priest’s back facing the people. Russo said this is because the priest is “trying to join all the prayers of everyone through him to rise to heaven.”

“It’s not a free-standing altar, like you would see in a contemporary church, with the priest standing behind it,” said Russo. “We actually stand in front of it, so our back is to the people.”

The Church holds both a high mass and a low mass. Russo said a low mass tends to be shorter, with a different series of prayers than a high mass. He also said the church is hoping to begin offering services in Latin as well as English.

Jeremy Defibaugh of NXT Wave Media, who is assisting the church with digital design and promotion, said one of the most important aspects of the church is its inclusivity.

“Anybody’s welcome,” said Defibaugh. “That’s the thing that’s one of the most important pieces. ‘Oh, I don’t have a dress shirt for church.’ As long as you come here and you pay your dues and are respectful to the man above, it’s a judgment-free zone.”

Russo said roughly 30 people attended the church’s initial mass on Jan. 8. St. Helen of the Cross holds low mass at 12:15 p.m. on Wednesdays and 8 a.m. on Sundays, and holds a high mass at 10 a.m. on Sundays.

Russo also stressed the importance of connecting with and supporting the local community, with Defibaugh noting that the church has “a lot of plans” dealing with youth development in the community.

Russo offers pastoral care hours every Wednesday from 1 to 4 p.m., he said, offering a supportive ear to whoever may need one.

“Anybody can come in if they just need a place to sit, or they need an ear, or whatever they need,” Russo said. “We’re here.”

He said that it is “amazing” to have this space, noting that it has been a long journey.

“It’s amazing. I come in here, and I just think, ‘This is for my people,’” said Russo. “And it is for my people. This is not my church, it’s their church. I just happen to serve them.”

Zibella Joins Equitas Realty Team

Lisa Zibella. Photo provided.

SARATOGA SPRINGS — Equitas Realty has announced Lisa Zibella as the newest member of the Equitas team.

Zibella credits her many years in the Spa & Beauty industry, including as a Cosmetologist, Aesthetician, Spa Director, Educator and Business owner, with her understanding of the importance of listening, working with compassion, understanding your product and the market, being resourceful, and the necessity of positioning her clients with a compatible product or service. 

Zibella grew up in Hudson, and has lived in San Diego, CA, Northern New Jersey, and Long Island. In her professional life, she has had the opportunity to travel across the country. Having recently returned to the Capital Region, she currently resides in Washington County, enjoying life on the lake with her husband and their Boston Terrier, Josie.

PDT Market To Open in Downtown Saratoga Springs

Chef Adam Foti. Photos provided.

SARATOGA SPRINGS — A new market in downtown Saratoga Springs is preparing to open soon.

PDT Market is “six to eight weeks” away from opening its new location at 55 Railroad Place, said owner Adam Foti, who described PDT Market as a “specialty grocery store,” with many other offerings.

“There are seven aisles of a grocery store,” Foti said. “So as far as people being able to come in and grab things like eggs, butter, milk, flour, the sort of staple things, as well as specialty things, like brands and things you may not find at other places.”

PDT Market will feature deli, seafood, and produce areas, along with a grab-and-go station, charcuterie station, flowers, personal items, and more. The market will also have a full-service bar with beer and wine on tap.

Foti said the new location, “just seemed like the right kind of space and time for us as a brand.”

“When we saw that Price Chopper announced last year in February that they were leaving, we thought this was a great space for all the things we wanted to bring together in the manifestation of all the things that I am and we are as a brand,” said Foti. “All the food bits and pieces, but also a space where people can be immersed in our brand, and transported, hopefully, to some other place.”

Foti said the store has been designed to be “really aesthetically pleasing.”

“Our brand lives in this sort of French and Italian-inspired place, and specifically our ques that we take from a design and food perspective are more like Provencal and Tuscan,” said Foti. “What that means to us is upscale comfort food, in a way. It’s not fussy, but it’s food made really well from scratch ingredients with a limited amount of things in it.”

Foti said the grab-and-go section will offer prepared sandwiches, salads, protein bowls, and more. The deli area will sell sliced meats, paninis, and custom sandwiches, while a hot bar will also be available with items such as macaroni and cheese.

The meat and seafood area will feature “super fresh” seafood, said Foti.

“Out of the ocean and into the store in a day to two days max,” Foti said. “Other prepared foods there, by the pound, things that you would find at a normal deli area, like macaroni salad, potato salad, pre-made entree things that people can just go home and heat up.”

PDT’s full-service bar will offer beers on tap, craft cocktails, and wine. Foti said the bar has a limited menu, and said they will also sell their own private coffee blend, pastries, and baked goods. The bar area can also be rented out for private events.

The store will also feature a build-your-own charcuterie station, and offer cooking classes to the public. Foti named regions of Italy and France as possible themes for the classes, and said they typically run about 90 minutes. Classes through June are open for registration on www.pdtmarket.com. 

“We do all the chopping and cutting. You come in and do the fun part, which is cook,” Foti said. “Then you can get drinks from the bar, hang out with friends, and have a good time. So it’s sort of our version of Paint and Sip, but you get to eat and sip.”

PDT began as a catering company, and Foti said they will continue to offer catering services. The company formerly had a physical location in Ballston Lake, where they offered what Foti described as “lifestyle products.” 

Now, in Saratoga Springs, PDT will be able to offer much more.

“In this case, there’s so many different types of food experiences that you can have in this space,” said Foti. “Whether it’s truly need-based, where I just need to get eggs, milk, and bread or whatever. … There’s that piece, but there’s so many other components to it.”

PDT is currently in the process of hiring employees, Foti said. As the store gets closer to opening, he said it is “really exciting” to see his vision come to fruition.

“I’m a super passionate person about the things I do,” Foti said. “Nothing fulfills my soul more than to have people smile and laugh while they’re eating, and just enjoy themselves. … That’s what sort of drives me, and why we do what we do every day.”

Foti said he hopes PDT will be an inclusive space “where everyone can come and enjoy us in whatever way they want to.”

“We hope, and we know, that there’s a community here already that will like what we have to put out there,” said Foti. “We feel that this type of concept is missing right now in this market, so we feel like this could be a great space where people could come together.”

Keeping an Eye on the Growing Recession Risks in 2023

Here’s what we are up against: leading economic indicators are signaling imminent danger, the housing market has drastically cooled off, and the Federal Reserve is committed to ensuring we don’t repeat the economic environment of the 1970s. “Besides that, Mrs. Lincoln, how was the play?” I recently saw data that said there is 100% certainty of a recession this year. In a world of probabilities, I like to avoid absolutes like that. What follows is not a prediction of what I think will happen but rather a look at the other side of the argument.

Inflation is cooling off. Recent inflation reports have become a favorite tool of politicians pointing to improvements in the economic situation. The widely tracked Consumer Price Index actually fell from November to December, which was cause for celebration in some circles. However, the index was still 6.4% above where it was a year ago, which is roughly three times higher than the Federal Reserve would like to see. While elevated prices are likely here to stay, the pace at which they are increasing is showing a declining trend.

The Federal Reserve is slowing the pace at which it is increasing interest rates because of slowing inflation. Last year, we saw four straight increases of 0.75% before its December increase of 0.50%. Expectations are for a 0.25% increase in February and a slight chance of that being the final hike of this cycle. Inflation is the linchpin to all of this, and a resumption of an upward trend in prices would undoubtedly force the Fed’s hand again.

China has apparently thrown in the towel in its fight against COVID. With that, its economic reopening could be an interesting story to follow this year. As the world’s second-largest economy, China represents a vital cog in the global economic machine. Their manufacturing helps to control costs by bringing more supply to the market. Additionally, the demand for goods and services within their borders and abroad is about to shift into high gear. Their population of 1.4 billion people is about to start spending money after accumulating cash over the last three years while sitting at home. Economic data and messaging from the Chinese government should always be taken with a grain of salt, but it is something to keep an eye on as it develops.

Housing could see a boost with mortgage rates declining. Over the last twelve months, we have watched the housing market go from red hot to ice cold – a jump in mortgage rates from 3% to 7% will do that. Since peaking at 7%, mortgage rates have fallen and currently sit at 6.15%. That is still much higher than we saw during 2020-2021, but the squeeze has been eased. It has been said that housing is the business cycle because the purchase of a house directly or indirectly impacts many different sectors of the economy, from banks to consumer goods, so an uptick in housing activity would provide a boost to the economy.

Harry Truman once famously requested a one-handed economist because he was frustrated with his advisors beginning their economic reports with, “on the one hand….” Economists have dropped their two-handed approach by predicting a 100% chance of recession this year. There is no denying that things look bad at the moment, especially if you watch the news. Hopefully, this article has helped you to see the other hand.

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.

For more information, visit contwealth.com.

Daniela D. McKee, Anthony Bonacio, and Jacob Patrick Sewell Join Julie & Co. Realty, LLC

SARATOGA SPRINGS — Julie & Co. Realty has announced Daniela D. McKee, Anthony Bonacio, and Jacob Patrick Sewell as the newest members of their brokerage in Saratoga Springs.

Daniela McKee was born in New York but had the opportunity to spend her earliest years growing up in Italy and Peru. She has had 20 years of experience managing properties, including buying and selling residential properties, along with several commercial properties. Daniela is well-versed in client relations and management, as well as fluent in Spanish and conversational in Italian.

Anthony Bonacio was born and raised in Saratoga Springs. He graduated with his M.S. in Accountancy in 2019 from Siena College and began his career in accounting and finance. After being in the property management business and meeting salespeople, Anthony decided to pursue his own real estate license. Anthony divides his time between his career, spending time with his dog, and hiking in both the High Peaks region of the Adirondacks and the Rockies in the Western US. He also enjoys spending time with his family and partaking in landscape photography and videography. 

Jacob Patrick Sewell lived in Greenfield for 18-plus years and currently resides in Saratoga Springs, where he worked as a welder and fabricator for several years. Now working in real estate, Jake is particularly interested in helping others find the perfect home or investment property. When not helping home buyers and sellers, he enjoys skiing at Gore Mtn. and hiking and biking throughout upstate NY.

Renee Rosenstein Named Mortgage Loan Originator of Retail Lending at Ballston Spa National Bank

Renee Rosenstein. Photo provided.

BALLSTON SPA — Renee Rosenstein has been appointed mortgage loan originator of retail lending at Ballston Spa National Bank (BSNB), according to President & CEO Christopher R. Dowd. 

In this role, Rosenstein will be responsible for originating mortgages through referrals from BSNB branches and relationships with realtors and builders. Rosenstein brings more than 20 years of mortgage experience in the Capital Region to her new position. She is an active member in the Women’s Council of Realtors.