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Saratoga Springs, especially downtown, is known for its elegance, vibrancy and success as a community.
With the national economy softening by the day and empty or closing storefronts popping up around downtown, residents are left to wonder if national issues are hitting home. In recent months, Quizno’s Subs, Saratoga Cigar and Pipe and Weathervane Seafood have closed their doors, while Gallery 100, Silver and Stones and Designers Studio are either selling or going out of business. Some of these closings are simply due to retirement, but with a closer look, the recent developments with the economy are raising product prices, rent and taxes, making business ownership a more difficult feat today. “Everyone is affected now by this economic situation,” Dawn Oesch, President of the Downtown Business Association said. “Some businesses persevere because they have been around for a long time but that’s not the case for everyone. We might even see more (closings).” Oesch’s advice to local business owners is to get involved with the community. It’s easier to have a voice with other people backing the same idea, she said. In Saratoga Springs, there are various community organizations that work to better the city as a whole, such as the DBA, The Saratoga County Chamber of Commerce and the Saratoga Springs Convention and Tourism Bureau to name a few. “It’s hard to do it by yourself. The best thing to do is get involved and try to make things better for everyone,” Oesch said. “There’s always a light at the end of the tunnel.” Joe Dalton, President of the Saratoga County Chamber of Commerce, said he believes downtown Saratoga Springs is one of the only successful downtowns in the region and is still in good shape compared to the rest of the nation. “If five businesses started today, only one will survive in five years,” he said. “Businesses are like a living entity. We need to support them or they will die.” Some of the businesses simply didn’t have the support they needed. According to Dalton, a tightening economy causes people to tighten their wallets, giving places like Silver and Stone and Quizno’s Sub a run for their money. In addition, Dalton said, taxes, insurance prices, heating costs and assessments are all rising, leaving landlords no choice but to raise rent. Aside from these problems, he remains optimistic. “Of course we are going to see businesses fail, but Broadway is still filled with people. This weekend I saw two busses with 45 people each unloading tourists. That’s 90 new shoppers in town for the day,” he said. Businesses and residents need to figure out how to adjust to the economy, Dalton added. “Once we adjust to the economy, owners will adjust their rent to attract tenants,” he said. “One-hundred percent of something is better than 100 percent of nothing.” As for buildings that have been vacant for longer periods of time, such as the building which held the Saratoga Brew Pub, O’Dwyers and the former Chianti II Ristorante location on South Broadway, Dalton said their structure is one of the main reasons for the vacancies. “They are unique buildings that are designed to be a brewery or a restaurant. It’s tough to change the format, making it hard to find people to rent the space.” As for Saratoga Cigar and Pipe and Designers Studio, their closings were simply due to retirement. Jill Huenges, owner of Designers Studio for 25 years, has been planning to retire for more than a year and had a buyer to take over the business, however the buyer could not get the financing and the sell fell through. “The current state of the economy didn’t effect my decision to retire, but it was the problem for the buyer. It’s still for sale and the price is dropping as I sell more inventory,” she said. Huenges said she believes that with prices dropping, if money is available, right now is a good time to buy. “There is plenty of time to re-stock before holiday shopping and the economy will force prices to drop,” she said. “We see stores selling and closing, but Saratoga is a vibrant community. We are still building million-dollar condos, so the money is there someplace.” According to David Zunker, President of the Saratoga Convention and Tourism Bureau, Saratoga’s downtown is active, energized and appealing to potential business owners and shoppers alike. “I don’t know what will happen with the current economy, but I am incredibly optimistic about this community. Our downtown is vibrant and the empty stores are usually replaced, but it may take more time now,” he said. Like Oesch, Zunker believes the organizations in Saratoga County helps downtown stay successful. “I’ve never been in a place where everyone supports everyone else so much. We have the Saratoga Economic Development Corporation, the DBA, the Convention Bureau and more that are all heading in the same direction. No one is fighting amongst them selves, but for each other,” he said. |