Retrofit Atlas

Other · New Hampshire

Balsams Grand Resort Hotel

Imported, unreviewedRedevelopedUnder constructionDixville Notch, NH

Active redevelopment under construction with TIF financing, housing included in new uses, county population decline noted, no new opportunity. · summary, model-written

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Site profile11 elements · what this retrofit is built with · tap a chip for the evidence

Finance and pipeline
Retrofit in the pipelineThis site: …under construction newtypes-extraction · all sites with this
Place
County lost 10%+ of retail establishments since 2012This site: -23% census-cbp · all sites with this
Shrinking countyThis site: -2.0% census-acs · all sites with this
Policy tool
BondsThis site: district) tax increment financing district, $28 million of bonds Approved by Coös County Commissioners, New Hampshire Govern newtypes-extraction · all sites with this
Tax increment financingThis site: Yes (tax increment financing district) tax increment financing district, $28 m newtypes-extraction · all sites with this
Strategy
RedevelopedThis site: …massive expansion of the ski area, renovation of main hotel buildings, new hotel wing, conversion of hotel rooms to condominiums, new condominium units,… record · all sites with this
New use
EducationThis site: House hotel, three new chairlifts, dining options, culinary school, year-round amenities Approved by Coös County Commissioners newtypes-extraction · all sites with this
Entertainment and sportsThis site: …new_use field newtypes-extraction · all sites with this
HotelThis site: …massive expansion of the ski area, renovation of main hotel buildings, new hotel wing, conversion of hotel rooms to con newtypes-extraction · all sites with this
HousingThis site: …new_use field newtypes-extraction · all sites with this
Retail (continued)This site: …new_use field newtypes-extraction · all sites with this

All elements and lists · Trends

Now

StatusUnder constructionnewtypes-extraction
StrategyRedevelopment, under constructionWikipedia
New useseducation, entertainment, hotel, housing, other, retailWikipedia
What is there nowmassive expansion of the ski area, renovation of main hotel buildings, new hotel wing, conversion of hotel rooms to condominiums, new condominium units, demolition and reconstruction of Dix House, restoration of Hampshire House, new Lake Gloriette House hotel, three new chairlifts, dining options, culinary school, year-round amenitiesnewtypes-extraction
RedeveloperLes Ottennewtypes-extraction

Planning

Zoning changeYes (tax increment financing district)newtypes-extraction
Public purchase or subsidytax increment financing district, $28 million of bondsnewtypes-extraction
Entitlement year2019Wikipedia
Planning notesApproved by Coös County Commissioners, New Hampshire Governor Chris Sununu.Wikipedia

Deals and debt

DateEventPricePartiesSource
2011Sold$2.3M closednew ownersWikipedia

Site context

Housing permits, Coos County (NH), 202420 units in 5+ unit buildings, 6 in 2–4, 89 single-family; 2023: 0 in 5+Census BPS
Retail trade in the county, 2012 to 2023142 establishments (-23%); 1,624 jobs (-9%)Census CBP
Housing market in the countytypical home value $252,787 (-2% 1 yr, +35% 5 yr); typical rent $1,292/mo, 2026-09Zillow Research
Traffic on the busiest road within 600 m (2024)1,106 vehicles a day on 26 (minor arterial, 2 lanes); 6 counted segmentsFHWA HPMS

Summary, model-written

Balsams Grand Resort Hotel closed in 2011 after operating as a grand hotel and ski resort. Les Otten acquired the site in 2011 (sale price: $2.3M) and began redevelopment. The project is currently under construction with permits issued for 115+ residential units (2023-2024) valued at ~$50M. Key elements include: ski area expansion, renovation of main hotel buildings, conversion of hotel rooms to condominiums, new hotel wings, and restoration of historic structures. A TIF district was approved in 2019 (with $28M in bonds), and the project received financing commitments totaling $30M in pre-sales by 2022. The new uses include housing, hotel, retail, education, and entertainment. The project is approved by Coös County and Governor Sununu. The county population declined 2.0% (2018-2023), and the project is listed as 'already in play' in the opportunity assessment. No current occupancy or financial performance data is provided beyond pre-sale commitments.

Why. The record confirms active construction, existing approvals, and public subsidies. The project is not a new opportunity (per 'opp_reasons'). Housing is explicitly included in the new uses. County population decline is noted but not linked to project outcomes.

Where it stands. Under construction (2024 work includes Dix House demolition/reconstruction, Hampshire House restoration, and new Lake Gloriette House hotel). TIF district active. No completion date provided.

For a planner

  • Zoning change approved (TIF)
  • Public subsidy: $28M bonds
  • Permit activity: 115+ units built 2023-2024
  • County population decline noted

For a developer

  • Pre-sale commitments: $30M (2022)
  • New uses include housing (explicitly listed)
  • TIF district enables financing
  • No new entitlements required (approved 2019)

What we do not know yet

  • No current occupancy rates or financial performance data
  • County population decline (2.0% 2018-23) not addressed in project design
  • No details on how TIF district was structured beyond 'tax increment financing'

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Multifamily screen

  • already in play: under construction, approved, or sold to a developer with housing plans
  • county shrank -2.0% 2018–23
  • housing in the record

Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.

History and original facts

Closed2011newtypes-extraction
Original developerHenry S. Halenewtypes-extraction
CountyCoos County
Census division1 · New England
NotesDraft from Wikipedia, model-extracted, unreviewed: The Balsams Grand Resort Hotel, closed since 2011, is undergoing a proposed $170 million redevelopment and expansion into a larger ski resort, hotel, and condominium complex in Dixville Notch, New Hampshire.

Not yet recorded: acres, GLA, year opened, retrofit year. Know it? Tell us.

Background

The Balsams Grand Resort Hotel is a grand hotel and ski resort located in Dixville Notch in New Hampshire, United States. It has been closed since 2011. The resort grounds cover 11,000 acres (45 km2) and feature 95 km (59 mi) of cross-country ski trails, an alpine ski area with 16 trails, five glade areas and a terrain park. There is also a nine-hole golf course and an 18-hole championship course called "Panorama" which was designed by Donald Ross.

Excerpt from Wikipedia (authors and history), CC BY-SA 4.0. May be older than the record above.

Timeline

  1. 2011 The Balsams closed to the public and was purchased by new owners
  2. 2011 Closed
  3. 2014 Les Otten joined the redevelopment effort
  4. 2019 "Balsams Bill" signed into law, allowing creation of a TIF district
  5. 2021 Provident Resources Group agreed to finance construction
  6. 2022 Over 500 pre-sale commitments totaling $30 million by June
  7. 2024 Dix House to be demolished and reconstructed, Hampshire House restored, new Lake Gloriette House hotel built, Phase 1 includes three new chairlifts

Sources

  • The Balsams Grand Resort Hotel · CC BY-SA 4.0
    7 quoted sentences
    The Balsams Grand Resort Hotel
    In December 2011, The Balsams closed to the public after being purchased by new owners for $2.3 million
    In 2014, former American Skiing Company head Les Otten joined the Balsams redevelopment effort.
    New Hampshire Governor Chris Sununu signed the so-called "Balsams Bill" into law in May 2019, allowing the Coös County Commissioners to create a tax increment financing district around the Balsams.

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