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SARATOGA BUSINESS JOURNAL
VOL. 30 NO. 10
www.saratogabusinessjournal.com
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GLENS FALLS, NY 12801 PERMIT #600
DECEMBER 2025
Bonacio Advances Luxury Condominium Allman Betts Band, Nicotine Dolls Lead Projects In Growing Saratoga Springs Market Saratoga New Year’s Eve 2026 Lineups
Allman Betts Band and Nicotine Dolls headline Saratoga New Year’s Eve 2026 with multi-venue concerts, family entertainment and fireworks in downtown Saratoga Springs with ticketed shows. Courtesy SaratogaNYE.com
Bonacio Development is completing two luxury condominium projects in Saratoga Springs, including The Waldorf and 78 Church Street, offering high-end finishes and walkable downtown living. BY PAUL POST Bonacio Development is nearing completion of two high-end, Saratoga Springs condominium projects with some units priced at more than $2.2 million. The Waldorf, at 122 Regent Street, is an historic Tudor-style carriage house dating to the early 20th century, which the firm has converted to five units. “The location is ideal, steps away from the starting gate at the track and steps away from walking through Congress Park to Broadway
Courtesy Bonacio Development
in downtown,” company President Julie Bonacio said. “It’s pretty special in that aspect.” High-end finishes are found throughout including herringbone hardwood floors, fireplaces, coffered ceilings, quartz countertops and gourmet appliances. Each of the building’s five units have private outdoor spaces and garages, and two have rooftop terraces. A furnished model was opened for prospective buyers in late November and all units will be finished by January 1. Continued On Page 11
The Allman Betts Band will headline Saratoga New Year’s Eve 2026, with performances scheduled across multiple downtown venues and a free fireworks display planned in Saratoga Springs, event organizers announced. The Allman Betts Band — led by Devon Allman and Duane Betts — will perform at the Saratoga Springs City Center. The group blends blues, Americana and Southern rock inf luences, drawing from a deep musical lineage while forging a contemporary sound. The band has released multiple critically acclaimed studio albums and is known for its extensive touring schedule, including the annual Allman Betts Family Revival.
Nicotine Dolls, a New York City-based pop-rock band, will headline Universal Preservation Hall. Formed in 2019, the group released its debut album, “An Attempt at Romantic,” in 2025. Its breakout single, “What Makes You Sad,” has earned nearly 20 million Spotify streams, with another album planned for 2026. At Caffe Lena, Reese Fulmer & The Carriage House Band will perform. The indiefolk/Americana group has gained a growing regional following for its dynamic live shows and rotating lineup of musicians. Caffe Lena is the longest-running folk coffeehouse in the country. The celebration will begin with free, Continued On Page 4
Alpine Sport Shop Marks More Than Arrow Expands Board With Appointment 80 Years As A Saratoga Ski Tradition Of Schenectady Tech Leader Darrin Jahnel STORY UPDATED DEC 19, 2025 BY ANN DONNELLY The Alpine Sport Shop, a Saratoga fixture since 1941, is more than a retail store; it's a community hub built on a legacy of family, service, and local involvement. Today, the shop is owned and operated by Jack and Cathy Hay, who met on the Saratoga High School ski team in 1968. The store's rich history began with founder Ed Taylor, who opened Alpine in 1941. Cathy’s parents, Dorothy and Thurlow Woodcock, purchased the business in 1966. At that time, it was located on Spring Street near the old Skidmore College campus. Back then, the shop was quite different, catering to the then all-girls school. According to Cathy, the students of Skidmore “were big customers then, and Alpine sold clothing like skirts, blazers, a variety of nice apparel. The ski shop was downstairs.” In 1968, when the Skidmore campus moved, the Woodcocks moved the business to the current Clinton Street location. Cathy notes that her father "designed and built the building to be a ski shop," creating a structure that evokes a European chalet. Jack began working at the shop part-time in 1970. Although Cathy initially worked at a savings and loan, citing that she didn’t want to work for her parents, she and Jack took over the reins following her father’s sudden death in 1988. Reflecting on stepping up to manage the business, Jack admitted he felt unprepared, saying, "I had gotten more and more responsibility from Cath's dad, doing the advertising, and then doing signage. So, you know, I wasn't really ready, but you know, things happen." Nearly 40 years after taking over, the Hays’ unflagging commitment to service and experience has helped it build an incredibly loyal customer base, now serving the fourth and even fifth generation of some local families. Cathy reflects on their history: “Once in a while somebody walks in the front door
Owners Jack and Cathy Hay have led Alpine Sport Shop in Saratoga for more than 80 years. Courtesy Ann Donnelly
and says, ‘I learned how to ski in here.’” Ski lessons were held in the shop for eight years, starting in 1976, utilizing the Graduated Length Method of ski instruction. These lessons took place on a unique ski deck that Jack and Thurlow built. The deck was located at the eastern end of the shop, an area that is now used for office and retail space. The Alpine Sport Shop continues to embrace modernization in its current operations, especially in service. The owners understand the need to evolve, noting, "You have to continue to upgrade and play with the technology." Following the COVID-19 pandemic, they purchased an expensive, automated Continued On Page 10
Arrow Financial Corporation (NasdaqGS® - AROW) is pleased to announce the appointment of Darrin Jahnel to the Arrow Financial Corporation Board of Directors, effective November 25, 2025. Jahnel, a dynamic CEO, entrepreneur and AI expert, brings more than 25 years of experience building and scaling highgrowth technology companies. He is the founder and CEO of Jahnel Group, a 150-person software consulting firm headquartered in Schenectady, New York. Under his leadership, the company has been named to the Inc. 5000 list for seven consecutive years and has earned multiple best workplace awards for its thriving culture. A graduate of the University at Albany and New York University’s Stern School of Business, Jahnel is also a paid speaker, a recognized expert on AI in business and scaling high-performance teams, and a member of Mensa. Beyond Jahnel Group, he founded InfoLink, an R&D tax credit firm, and acquired LTI, a 40-person software company. He has delivered more than 100 talks on AI, leadership, entrepreneurship and culture and facilitated peer groups of emerging entrepreneurs. “We are pleased to welcome Darrin to the Arrow Financial Corporation Board of Directors,” said David S. DeMarco, President and CEO of Arrow Financial Corporation. “His track record of innovation, his technical depth and his experience building high-performance organizations will bring valuable insight to our board. We look forward to the expertise he will contribute as Arrow continues to grow and strengthen its position in the communities we serve.”
Darrin Jahnel joins the Arrow Financial board as the company expands its leadership. Courtesy Arrow Financial Corporation
In addition to his professional accomplishments, Jahnel has a long history of service and community involvement. He currently serves on the boards of the Capital Region Chamber of Commerce and Mekeel Christian Academy and is a member of The 50 Group, Entrepreneurs’ Organization and UNY50. He led mission trips to developing nations, advocates for foster care and adoption and remains active as a basketball coach, mentor and community leader. See Form 8-K filing from November 25, 2025.