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Paul

Balsams Wilderness , NH - 2018-19 Reopening

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This project is already a few years behind schedule. Balsams was to be reopened by now featuring a massive $140 million development plan that has yet to break ground. The end result was to be that Balsams would be the largest resort in the East. This link is specific to the latest update. The resort was scheduled to reopen back in 2015-16 but nothing as of yet. On this site New England Ski Industry, you will find additional links and information on this massive project. Now they are hoping for a reopening for the holiday 2018-19 season. The mountain closed along with the Balsams Hotel back in 2011. 

http://www.newenglandskiindustry.com/viewstory.php?storyid=590

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Hi Paul, this project is very interesting and has a lot of potential. Amazing that they plan to make a mountain that is relatively small and unassuming into something much much larger and grand. Hope things finally kick off in October. Let's see what happens. Fingers crossed!

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It has been awhile since the last update on the Balsams Wilderness project. Now we have one. Looks like there maybe another delay in getting the project started. The New Hampshire Business Finance Authority has not approved the $28 Million state loan guarantee. The NH BFA is requesting more information on the project.

The scheduled spring groundbreaking may be delayed once again.

Below is the link to the full story on the New England Ski Industry’s site.

http://www.newenglandskiindustry.com/viewstory.php?storyid=669

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I hadn’t heard much lately about the Balsams Project, and discovered this little nugget late this afternoon on Facebook. Looks like a major step backwards and hit on this huge undertaking to revive the resort. The developers through its lead lender SCU, has withdrawn the application for the $28 million Tax Bond guarantee with the state of New Hampshire through the NH Business Authority. The conditions ultimately required by the Authority do not allow for SCU and Balsams to proceed.

Below is a link to the Balsams site giving more detail into this decision. 

https://thebalsamsresort.com/balsams-withdraws-bfa-application/

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That's really unfortunate news. The project if ever built would be quite nice and expansive. Amazing that such a small place could become quite large in this way.

Time will tell what happens next. Thanks for sharing the latest Paul.

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Found some news on the Balsams project.

The House and Senate approved a bill that will enable Less Otten to seek the funding he needs to move ahead with the project and expansion.

This is a big step into making things a reality. Now he needs to get funding and there will be consultations with the communities.

https://www.conwaydailysun.com/news/local/senate-passes-balsams-bill-sununu-says-he-ll-sign-it/article_14b42750-6227-11e9-ade7-17c4c89143df.html

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Thanks for sharing Paul. 22 lifts and 1200 acres of terrain. Should be impressive. 

Unless I've missed it, I’d love to know how quickly there timeline is for adding all those lifts and terrain. Is it a 5 year plan to build or a 15-20 year?

I would like to see it completed. Fingers crossed. Once construction starts I would assume things would stay mostly on track going forward. If they say he hopes to open in 2020-2021 that’s in a year and a half so work would need to start this summer. Unless opening only involves starting with the existing infrastructure and trail networks. 

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I had been following this story since 2014 or so when it was first announced and the plan then was to open at full build out, but that would be a monumental task to have it all ready for one grand opening. I haven't heard the updated plan yet. I always thought that they should reopen the existing mountain first to get people to come back to the region and expand the trails and lifts year by year afterwards. 

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Just saw this online.

The Balsams is now up for sale. It would seem like they are seeking an owner. The current development team led by Les Otten would stay in place to advise and move the redevelopment forward. 

https://www.cbredealflow.com/handler/modern.aspx?pv=AVYIy7hOLZiqeNVoKWDnOuJVgbAS7Qh_eHHSOSwTcYc#_top

What i just wrote could be incorrect from misunderstanding the situation but the whole thing is honestly getting quite confusing. 

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