Pushing to get the deal done: Saratoga Springs, NY, 30
minutes north of Albany, the state capital.
The iconic polo field, established in 1898 and still in use today,
encompasses 42 acres. Development plans call for approximately 80 units,
cottages and homes surrounding the field, plus an Events Barn and transient,
overnight lodging units all to join the existing clubhouse replete with
trophies, silver cups and lots of history.
Star is venturing, and in charge of marketing and
selling, with sellers Jim Rossi and Mike Bucci, both very
talented guys, as well as Duane Gerenser and Mike Connor of Connor Homes in
Middlebury, VT.
Saratoga Springs, five miles from Saratoga and the
historic Revolutionary battlefield, National Monument, was established in 1819
and has a glorious
history. Saratoga Springs was the first big spa town in the USA, at one
time the site of the world’s largest hotel, and the Saratoga Performing Arts Center is
still the summer home of the Philadelphia Symphony and the New York City Ballet
company.
Like many early attractions, the town fell asleep
post-WWII and then woke up some decades ago and got back on track.
The thoroughbred racetrack is run by the New York Racing
Association and follows the Triple Crown. The racetrack is considered
to be in the top four of all racetracks in America.
The harness racing season is also long standing and well attended.
It is adjacent to the Saratoga
Casino, which offers all electronic gaming. The proceeds go to the Saratoga
schools and the harness racing purses.
Then, of course, there’s polo. William Collins Whitney [that’s right, those Whitneys]
established the polo field a mile from downtown in 1898. On the major circuit for polo in the USA, its season draws the
world’s most elite polo players. The original legal entity is still in place
and owned by our group: Saratoga Polo Association, or SPA for short.
The development plans, as now set, call for approximately
80 homes/cottages surrounding two sides of the field with commercial on the
third side. The acreage abuts Skidmore College, which is home to one of 140 collegiate polo teams.
