Construction of a new hotel at the defunct resort could start next year.
Friday, December 10, 2021, NewEnglandSkiIndustry.com
The Balsams, June 2020
Construction of the proposed Lake Gloriette House hotel could start next year, Balsams owner Les Otten told the Coos County Commissioners on Wednesday.
The financing would be provided by Provident Resources Group, the same company involved with the redevelopment of Big Squaw in Maine. Under the proposal, Coos County would need to "adopt a resolution evidencing their support of the project," but would not have a financial obligation, according to Otten. The commission could vote on a resolution as soon as next week.
According to the Colebrook Chronicle, Provident would sell tax-exempt bonds for a business entity it would create to own the new hotel, which could have a 2022 groundbreaking. Otten's group would retain operational control of the facility.
Primarily involved in educational and senior living developments, Provident Resources Group of Baton Rouge, Louisiana is working with Big Lake Development to procure funding for the once-estimated $75 million Big Squaw, Maine redevelopment. Though it does not have any ski development experience, it does claim to have facilitated the development of water parks. As of early December, the Big Squaw acquisition has not been completed and it is not known if the existing ski area will operate this year. Once sold, the Big Squaw ski area would be renamed and redeveloped.
According to Otten, "By having a partner like Provident, it gives us a head start on the housing we want to build in Colebrook at the golf couse."
It is not known what the timeline for the redevelopment of the Balsams ski area is at this point.
The northernmost chairlift served ski area in New Hampshire, the Balsams Wilderness operated from 1966 until 2011, when the Dixville Notch Balsams Grand Resort was shuttered. Daniel Dagesse and Daniel Hebert acquired the resort later that year. While equipment has been sold and some hotel related structures demolished, the ski lodge and triple chairlifts remain in place. Les Otten has been involved in the project since 2014, purchasing Dan Dagesse's stake in 2017. Annmarie Turcotte joined as a partner circa early 2021. Plans include 22 ski lifts serving 1,200 acres of skiable terrain. At present, vacation rentals are operated on the property.