SBJ P.O. Box 766 Saratoga Springs, NY 12866
SARATOGA BUSINESS JOURNAL
VOL. 29 NO. 4
HH The Business Newspaper of Saratoga County HH
PRSRT STD U.S. POSTAGE
PAID
GLENS FALLS, NY 12801 PERMIT #600
JUNE 2024
www.saratogabusinessjournal.com
NYRA Unveils The New Jim Dandy Bar And Plan For The Redevelopment Of The AlbanyExtensive Renovations To Lower Clubhouse Saratoga Speedway Presented To Malta Board
The Jim Dandy Bar, named for a 3-year-old colt that won the 1930 Travers Stakes, has been moved back to its original location and renovated according to historical drawings. STAFF REPORT A host of major first-f loor Clubhouse renovations, including a new horseshoeshaped Jim Dandy bar, will greet racing fans at Saratoga this year. Such work is the latest in a series of significant Clubhouse capital improvements, which last year featured upgrades to the Finish Line Grill and Modelo Finish Line Bar. "As always, our goal is to offer fans an improved experience while balancing the history and tradition of this cherished venue," said David O'Rourke, New York Racing Association president and chief executive officer. "These are important investments which guarantee a successful future for Saratoga Race Course."
Courtesy of the New York Racing Association
The historic track hosted racing's third leg of the Triple Crown, the Belmont Stakes (Saturday, June 8) for the first time ever as reconstruction of Belmont Park continues in Queens. Saratoga will host the Belmont next year as well. The race was the highlight of a fourday Belmont Stakes Festival in Saratoga, which brought unprecedented international exposure to the city while generating a multi-million-dollar economic impact. The regular summer meet begins on Thursday, July 11 and runs through Labor Day Monday, September 2. The Jim Dandy Bar, originally a members-only lounge in the 1940s, is named Continued On Page 16
Plans are underway to build a mixed-use development on the roughly 50-acre plot that is currently the home of the Albany-Saratoga Speedway in Malta. Five Corners Development, a local residential developer based in Saratoga Springs, joined its national partner,The NRP Group, recently to present a multi-phase concept plan for the redevelopment of the AlbanySaratoga Speedway to the Malta Town Board. Once approved, the planned development will transform the roughly 50-acre property into a vibrant retail and residential neighborhood along the busy Route 9 corridor through northern Malta, adding hundreds of units of housing and compelling retail concepts along the gateway of a growing community. The partners have recently placed the property under contract after learning of the landowner’s desire to sell the site as raw land through a local brokerage company. Cur-
Saratoga Business Journal
rently, there is no closing date set and the racetrack is anticipated to continue running at least through its 60th anniversary racing season in 2025. The initial development process began with a presentation to Malta’s Town Board. Planning reviews are expected to commence over the coming months. “Five Corners Development is thrilled to play a part in the continued responsible growth in Malta and Saratoga County,” said the company’s founder and principal Sumeet Gupta of Saratoga Springs. “Even in these early stages of the development, we have been in discussions with interested tenants such as daycare centers, restaurateurs and widely renowned Fiden’s Brewing. While Continued On Page 14
Clifton Park And Albany Hannoush Jewelers David Andrade Is Named New President Of Expands With Opening Of Queensbury Store StoredTech To Take Company To Next Level
Albert (left) and David Hannoush, who own jewelry stores in Albany and Clifton Park, have opened a third store in Queensbury. BY SUSAN ELISE CAMPBELL Hannoush Jewelers has opened a new shop in Queensbury at 1054 Route 9. It is the third location for two brothers who “happen to be part of a big family of jewelers” according to David Hannoush, who co-owns the Albany, Clifton Park, and now
Courtesy of Hannoush Jewelers
Queensbury retail stores with his brother, Albert. “Our father is the oldest of eight brothers and Albert and I are the oldest of 36 first cousins,” said Hannoush. There are about 50 Hannoush Jewelers stores in 13 states, independently owned by differContinued On Page 13
BY PAUL POST If he ever feels the need for a career change, David Andrade would make a great big league general manager. “Building a company is almost like building a baseball team,” said the new president of Queensbury-based StoredTech. “We’re definitely looking for veterans out there who have done it before. But we also want the new person who is hungry, willing to put in the time and effort, and wants to learn and grow with an organization.” Andrade succeeds Mark Shaw, who founded StoredTech 14 years ago and continues as its chief executive officer. “I really looked in the mirror and said, ‘Obviously we want to continue to grow StoredTech in a massive way’,” Shaw said. “We’ve doubled and tripled growth almost every year. But as a business owner it’s easy to make mistakes. I thought, ‘Wouldn’t it be cool to shortcut some of the mistakes we might make.’ The best way to do that and continue accelerated growth is to bring in somebody who’s done this before at a bigger scale, a bigger level, somebody who is aligned with our goals and company mantra of ‘customer delight’.” StoredTech is a leading, full managed service provider that supports hundreds of clients with
David Andrade has taken over the reins at Glens Falls-based StoredTech. Courtesy of StoredTech
all aspects of IT so they can focus on their core business. StoredTech not only implements clients’ technology, but monitors it as well. “We insure that the client is getting all they can out of the technology they’re utilizing,” AnContinued On Page 4