The Warren County Economic Development Corporation voted today to move from their space on the first floor of the Monument Square building, at 333 Glen St., to the second floor of the Empire Theatre building on South Street, just blocks away.
“I believe long term that the organization is better suited in that space," EDC president Jim Siplon told the board at their monthly meeting Tuesday morning Jan. 18.
The EDC has been on a month-to-month lease at 333 Glen St. since at least last fall.
They had negotiated an offer on a third-floor space with the owners of 333 Glen—about $44,500 per year—and on the Empire Theater building—about $55,440. The base rent is actually cheaper in the Empire Building but utility costs, common area maintenance costs and others add to the annual outlay, according to a presentation from EDC Vice President John Wheatley.
Siplon has been leading the way toward moving into new space for about a year. Among his arguments was that the organization needed more space to hold larger events and group meetings, but he had gotten pushback from board members in the past who warned against overspending on office space.
"I certainly support upgrading to give our staff the space they need,” Mike Pratt said, but then asked why the third floor space in the current building could not do it.
Siplon admitted that either space would work and said, "It's just not as inviting.”
Siplon has maintained that the organization's office is not just work space but a way to show the group’s dedication to moving forward and building the economy of Warren County. The Empire Theater building is that, he said.
He said that the Monument Square building “feels like an office building from 20 years ago."
As well, 333 Glen St. has been for sale for several months, so there is the question of new ownership and how that might affect the building. The owners, 333 Glen Associates, also have back taxes to pay.
With the development of South Street expected in the next few years, a location in the middle of the action seemed to sway some board members.
"I do think that having a more updated, more historic location to me just bodes well for where we're headed,” SUNY Adirondack President Kris Duffy said before the vote. She is a member of the EDC board. “I would support the theater space."
[Read more about South Street here.]
Kevin Lynn, of 333 Glen Associates, was clearly disappointed with the decision in an interview after the vote.
“After all I’ve done for them in the past five years, I was hoping it would go our way,” Lynn said, adding that he understood that it was the EDC’s decision.
He said that the rent originally negotiated with Ed Bartholomew when he was EDC president was below market value with the idea that after the lease, the EDC would pick up a lease at full market value. He also hoped the goodwill gesture of a month-to-month lease in order to give the EDC time to decide would make 333 Glen the organization’s choice.
The pandemic has been hard on the building and commercial property in general.
The tax question has stymied the deal that 333 Glen is trying to make with the City of Glens Falls to buy a small parcel of land at the corner of Bay and Glen streets. Lynn said the sale of the slice of land would go a long way to paying those taxes. Glens Falls previously agreed to a $225,000 purchase price for about a half acre of undeveloped land.