Category Archives: Business News

By Susan E. Campbell

Regan Development in Albany has contracted to purchase 182-186 Broad St. in Glens Falls and plans to construct a new, four-story workforce development complex featuring 72 affordable, energy-efficient apartment units.

Broad Street Commons will sit on 4.1 acres of prime downtown property that is close to Glens Falls Hospital, public transportation, banks, markets, and all the amenities of a city in the midst of revitalization. In addition, the complex itself will have 6,000 square feet of commercial space at street level, according to the company.

“A workforce development complex offers rents that will attract nurses, aides and families with incomes lower than the median,” said Larry Regan, president of the family-run business that has done dozens of similar projects throughout New York state, such as Lion Heart Residences in Cohoes, and in neighboring states.

By R.J. DeLuke

The latest economic impact study regarding Cool Insuring Arena in downtown Glens Falls  shows revenue  numbers are increasing and effort by its owners—the Adirondack Civic Center Coalition—continue to be successful for keeping the facility in the black.

At a news conference in November, Camoin Associates, a research group based in Saratoga Springs, unveiled its latest study that showed that revenue and attendance continue to grow.

In 2016, Camoin Associates was commissioned by the Coalition to conduct an economic and fiscal impact analysis of the arena through July 2016. The new report is an update to that study and analyzes the impacts of the arena for the two subsequent years: August 2016 to July 2017, and August 2017 to July 2018.

The arena is home to the Adirondack Thunder hockey team, but hosts other events like concerts, sporting events and more that bring in revenue.

Direct and indirect spending from events rose roughly $2.6 million from $10.6 million to $13.2 million the past three years, the study said.

By Susan E. Campbell

The building at 308 Dix Ave. in Queensbury, home of Kmart for many years, is slated to become a self-storage facility and retail shop for U-Haul once bankruptcy court filings for Sears Holding Corp. open the way for acquisition of the property.

The purchase would allow U-Haul to significantly expand its business located now at 112 Main St. in Queensbury, the company said.

The store remains open thru the Christmas holiday season.

“It has been a pleasure working with the Sears real estate and legal teams to get to this point,” said Sebastien Reyes, vice president of communications for U-Haul International. “We look forward to continue working with them in hopes of getting approval from the bankruptcy court for this transaction.”

The Painted Pony Championship Rodeo and South Warren Snowmobile Club were recently awarded the 2018 STAR Awards from the Lake George Regional Chamber of Commerce.

Also, Jacquiline Touba, Ph.D., of Glens Falls was honored with the Sapphire Award for her work in promoting and growing the cultural tourism offerings in the region. The award was established in 2017 at the Chamber’s 65th Sapphire Anniversary Gala to honor a “gem” in the community.

Each year, the Chamber honors organizations or individuals that help grow the tourism economy, which is vital for supporting jobs and offsetting the tax burden of residents, the Chamber said. STAR stands for Supporting Tourism Around the Region.

The awards were given at the Chamber’s annual dinner at the Boathouse Restaurant. Approximately 90 people attended the dinner, which included an annual report highlighting the Chamber’s activities for the year.

The report said that in the past fiscal year (2017-18), the Chamber has assisted approximately 65,700 visitors at its information centers in addition to other visitor services.

By Christine Graf

The Adirondack Civic Center Coalition will seek between $2 and $3 million in funding from New York state to help fund a number of renovations it would like to accomplish at Cool Insuring Arena in downtown Glens Falls.

Among them is renovation of Heritage Hall.

Located on the mezzanine level of the arena, Heritage Hall is a 7,300-square-foot space used for banquets and other events. It has its own kitchen as well as a bar that is open to the public during Adirondack Thunder hockey games.

The arena is home to the Adirondack Thunder hockey team and hosts other events like concerts, sporting events and more that bring in revenue.

“We have plans to have a new entrance into Heritage Hall, and a full renovation of the Heritage Hall space,” said arena General Manager Jeff Mead. “We’re talking floor, walls, ceiling, lighting, audio video, a new bar, and updated kitchen. Basically everything in that room needs to be replaced.”

Magic Forest amusement park in Lake George is undergoing major changes in 2019 as it changes ownership.

The 2019 opening of Lake George Expedition Park was announced in December at the site of the Magic Forest amusement park located on Route 9. Dino Roar Valley will be a safari trail populated by animatronic dinosaurs within the amusement park.

The new owners will continue to operate  the Magic Forest in 2019 on the 46-acre site.

Ruben Ellsworth of Lake George, owner of Ellsworth & Son Excavating in Fort Ann, was in the process in early December of completing the purchase of the Magic Forest amusement park from Jack Gillette. The park has been owned and operated by the Gillette family for 55 years.

New York state has added 131 acres to Moreau Lake State Park in Saratoga County.

The addition brings the park’s total acreage to 6,100, a nearly nine-fold increase in size since the park was established 50 years ago, officials said. The property will help expand year-round trail-based recreation and protect the natural habitat in fast-growing northern Saratoga County.

“New York is home to some of the best outdoor recreation areas in the nation, and this addition will continue to preserve our state’s treasured natural habitat,” Gov Andrew  Cuomo said. “By expanding Moreau Lake State Park, we are not only providing increased recreational opportunities for New Yorkers, we will also help attract even more visitors and boost tourism in the region.”

By Jill Nagy

Joseph Gross, owner of Gross Electric Inc. in Queensbury, recently acquired a 25-acre parcel of industrially zoned land adjoining the Carey Industrial Park on Carey Road.

It abuts a seven-acre parcel he already owns, giving him more than 30 acres of vacant land ready to be developed. Gross now owns the last two vacant lots in the approximately 100-acre industrial zone near Northway Exit 18.

Gross said there has been some interest in developing the newly acquired land. He is willing to build to rent or to sell. He said he may build something on speculation or, if a tenant or buyer is interested, build to suit.

However, “nothing is inked yet,” so, for now, the identity of any prospective developer remains confidential.