From NEWS
THE BALSAMS: GOOD PROGRESS MADE AND GREAT THINGS AHEAD
June 17, 2022
By Les Otten
Appearing in the Colebrook Chronicle
“The Balsams Development Team has made significant progress over the last six months since the announcement of our collaboration with Provident Resources Group (PRG) and
Goldman Sachs to advance major components of the project’s financing. This announcement created a tremendous surge in interest, with more than 500 individuals inquiring about Balsams real estate since the relationship with Provident was announced, catapulting pre-sales commitments to approximately $30 million.”
Les Otten Talks about the State of The Balsams on NH Business Review
March 18, 2022
“With a new investor entering the fold, the long-awaited Balsams redevelopment will be a new North Country getaway for Granite Staters, hopefully in late 2023, early 2024. NHBR Editor Jeff Feingold and Associate Editor Amanda Andrews sit down with developer Les Otten to get the lowdown on what’s coming for the new project.”
Listen to the full episode from NH Business Review’s Down to Business Podcast here.
Les Otten Discusses The Balsams on the Bloomberg Baystate Business Podcast
December 17, 2021
“…we’re absolutely in great shape to be a year-round destination.
We’re looking at this with Coos County saying there’s 400 full-time year-round jobs that come out of this initially, up to 1500 jobs in the long term, and 600 construction jobs initially for at least two years. So it is a big economic driver for the region and potentially a game-changer.”
Les Otten discusses The Balsams future as a “Year-round, one-of-a-kind” resort on the Bloomberg Baystate Business Podcast – from all of the planning, permitting, real estate pre-sales, and pre-construction work that has been done so far, what pulled Les into a determined 7 years to bring the plan to fruition, to the future vision for the resort.
Listen to the Bloomberg Baystate Business Podcast Segment here.
Nonprofit lender allowed to redevelop The Balsams
December 15th, 2021
“‘The Commission’s vote affirms they support the Balsams’ rebirth and they welcome (Provident Resources Group of Baton Rouge) role in financing a central part of our renovation and expansion,’ said Les Otten, the owner of The Balsams, in an email Tuesday.
He said the vote was ‘for creating jobs and boosting the North Country’s economy, and is already stimulating great interest from people who want to put deposits on suites in Dix and Hampshire House. Inquiries are pouring in.'”
Read the full article from The Union Leader.
Les Otten lines up new financing for his Balsams resort reboot
December 14, 2021
“Les Otten has spent nearly $19 million and the better part of seven years working to reopen the tumble-down Balsams resort in Dixville Notch, N.H. It’s been a difficult, if not quixotic, quest, even for a man who built a skiing empire earlier in his career.
When my Globe colleague Janelle Nanos checked in with Otten in 2016, he was expecting the Balsams to be back in business the following year. But the obstacles were many, including financing setbacks, a painstaking environmental review, and, more recently, the pandemic.
Now, just as it looked like another lonely winter in North Country, Otten has struck a funding deal that might allow him to start construction on a new hotel and conference center as soon as March. Under that scenario, the resort could welcome skiers for the 2023-2024 season and summer guests in 2024.”
Read more from The Boston Globe »
View the Print Edition from December 16, 2021 – Boston Globe – Dream Destination
Otten outlines new plan to rebuild Balsams resort
December 11th, 2021
“‘To be clear, there is no financial commitment or liability of the county whatsoever. The bonds are not an obligation of the county in any way. They are solely the obligation of the Provident entity involved in the ownership of Lake Gloriette,’ stressed Otten.
In fact, once the bonds are paid off, the net-free cash flow will be used for qualified charitable projects in Coos County, boosting economic efforts here.”
Read the full article from The Concord Monitor.
Balsams Takes Big Leap Forward With Crucial Investor
December 10th, 2021
“NORTH COUNTRY – After being shuttered for a decade and incurring a number of setbacks in its redevelopment, a critical investor has come along for The Balsams Grand Resort in Dixville.
If the financing comes together this winter, the ground could be broken on the first phase of development early next year…”
Read the full article from The Caledonian Record.
Les Otten Details His New Plan For Balsams Hotel
December 10, 2021
From the Colebrook Chronicle
“The Lake Gloriette Hotel and Conference Center at the Balsams Resort property in Dixville Notch might be just a handful of months away from start of construction.
This week, Les Otten, the property’s owner, met with the Coos County Commissioners – the board which serves in a similar capacity as selectmen – to discuss the backing he has received from a non-profit organization to build the main structure on the property…”
Read the full article from the Colebrook Chronicle.
Otten outlines plan to proceed with redevelopment of Balsams
December 9th, 2021
“WEST STEWARTSTOWN – Balsams developer Les Otten on Wednesday unveiled plans to have a national non-profit organization build the planned new hotel and conference center at the resort. After seven years of effort, Otten said the collaboration will allow the redevelopment of the former grand resort to proceed…”
Read the full article from The Berlin Daily Sun.
Hale & Tillotson Houses get Glowing Reviews
October 19th, 2021 – HALE HOUSE
From Lisa via VRBO
“The Hale House is a charming, inviting venue surrounded by gorgeous landscapes. The property managers were attentive and responsive while giving us space to pursue our own activities. The on-site chef prepared the most delicious meals and the staff provided superb dining set-up and clean-up. We had an exceptional time reliving old Balsams memories and we would highly recommend staying at this property.”