Group giving gift of housing
Shelters of Saratoga adds four units in prime location
The Business for Good Foundation, founded by Ed and Lisa Mitzen to support the community through proceeds from businesses they own or mentor, added to the list of affordable apartments in the city with the gift of a long-term lease to Shelters of Saratoga.
The Foundation announced Tuesday they handed over 1 Franklin Square, a historic Greek Revival next to Spot Coffee. The building has four apartments on the upper floors and office space on the first floor, used by Shelters of Saratoga staff.
Duane Vaughn, executive director of SOS, said Tuesday three formerly homeless people have already moved into the apartments and the fourth apartment will be occupied soon by someone who was once homeless. The tenants pay reduced rent to SOS based on local income guidelines. SOS has a similar arrangements in buildings along Washington Street and Grand Avenue as well as a 30-bed shelter along Walworth Street.
The shelter is currently functioning at below capacity because of COVID-19 restrictions, Vaughn said, adding no one staying at the shelter has tested positive for COVID-19. SOS has an annual budget
of $1.7 million, and during the winter when the Code Blue shelter is operating, employs 40 people.
Units inside the well-maintained building, located in a prime location in a thriving real estate market, could rent for much more than the new tenants are paying. Vaughn said he admires the Mitzens because they could be doing something else with the building, but they agree with the SOS mission of finding permanent, safe housing for everyone.
“The gift works to fill the community need for affordable apartments with supportive care,” Vaughn said. “Access to health care, food, employment and community services promotes self-sufficiency and stable housing.”
Ed Mitzen, the founder of Fingerpaint and other marketing firms, founded Business for Good last year with his wife, Lisa. They have since purchased the Bread Basket in Saratoga Springs and turned it into a fundraising vehicle and also bought Hattie’s Restaurant. An LLC associated with Fingerpaint bought 1 Franklin Square in 2017 for $1 million. This year, BFG bought property on North Broadway to serve as its headquarters, freeing up the building in Franklin Square.
SOS used $3 million in state grant money to buy the former Spa Motel at 73 Ballston Ave. in the city and renovate the nine motel units. SOS clients who move into the units will receive support at a hospitality house associated with the motel. Renovation work is also going on at SOS properties at 14 and 20 Walworth St., also under the state grant. The work is expected to be complete in 2023 and will raise the nonprofit’s available beds to 40.