The Balsams

Dixville, New Hampshire

Investment Highlights

Investment Amount

$800,000

Investment Type

Subordinated Loan

Investment Duration

3 Years

Projected Return

5% per annum

Location of Job Activity

Rural

Application Processing

Priority

Total Project Cost

$366,800,000

Total EB-5 Raise

$180,800,000

Estimated Jobs

3,219

Job Cushion

42%

I-956F

Filed

A Legendary Destination Reimagined

The Balsams Resort is undergoing a visionary transformation into a premier four-season destination. Spanning 11,000 acres of pristine wilderness in northern New Hampshire, this historic resort blends luxury, adventure, and sustainability to create an unparalleled investment opportunity.

Why Invest

The Balsams' redevelopment aligns with the growing trend of high-net-worth individuals seeking exclusive, experiential getaways. With its prime location, diverse revenue streams, and significant job creation surplus, The Balsams offers a secure and rewarding EB-5 investment opportunity.

Ski Expansion

Winter Sports Largest Ski Resort in the East

At full build-out, The Balsams will be home to the largest ski resort in the eastern United States, featuring over 2,200 acres of skiable terrain. With a new high-speed gondola, meticulously designed trails, and a state-of-the-art snowmaking system, the resort will deliver an unparalleled alpine experience. Whether carving down wide-open groomers or exploring untouched glades, skiers and snowboarders will enjoy a world-class winter destination unlike any other in the region.

Historic Legacy

Modern Luxury A Rebirth of a Grand Resort

For nearly 150 years, The Balsams has represented the pinnacle of New England hospitality, offering guests an experience steeped in history and refinement. Now, the resort is being revitalized with contemporary luxury, seamlessly blending its rich architectural heritage with modern amenities. From grand common spaces with elegant interiors to thoughtfully designed guest accommodations, every detail of the resort’s rebirth preserves the charm of its past while embracing the future of five-star hospitality.

Strategic Market Appeal

Proximity to Major Hubs

The Balsams’ location in northern New Hampshire is just a few hours’ drive from the Northeast’s major population centers. With an expansive site connected to the North Country’s wilderness areas by a vast network of trails, The Balsams offers a remote retreat while remaining highly accessible. With 12.4 million people living within a five-hour drive, the resort benefits from easy access to the Northeast’s metropolitan areas, attracting visitors from Boston, New York, and beyond. Additionally, the Berlin Regional Airport is just a 30-minute drive from the resort, currently available for private flights but with potential for future commercial service due to its 5,200-foot runway.

Proximity to Major Hubs
A Culinary Destination

World-Class Dining & Local Flavors

At The Balsams, food is more than just sustenance—it is an experience. The resort’s dining venues will celebrate the best of New England cuisine, with farm-to-table dishes crafted from locally sourced ingredients, seasonal menus inspired by the region’s rich agricultural heritage, and expertly curated wine pairings. From elegant fine dining to casual après-ski lounges, guests will savor an unparalleled culinary journey in every meal.

World-Class Dining & Local Flavors
Holistic Retreat

Wellness & Relaxation Luxury Spa

Nestled beside the Cold Spring Brook waterfall, The Balsams Baths offers a world-class Nordic spa experience that invites guests to unwind in the open mountain air. The spa features thermotherapy pools, steam rooms, and saunas, where guests can rotate between heat therapy, cold plunges, and moments of peaceful rest to rejuvenate the body and mind. The soothing white noise of the flowing brook enhances the sense of calm, while the rule of silence ensures a meditative and immersive experience. Whether guests follow the traditional Nordic cycle, indulge in classic spa treatments, or simply soak in the tranquil atmosphere, The Balsams Baths is designed as a sanctuary of relaxation.

Wellness & Relaxation Luxury Spa
Eco-Friendly & Carbon Neutral

Commitment to Sustainability

The Balsams is leading the way in sustainable luxury, incorporating energy-efficient systems, green building practices, and a commitment to carbon neutrality. The resort’s operations are designed to have a minimal environmental impact while providing guests with an eco-conscious retreat that harmonizes with its breathtaking natural surroundings. Sustainability at The Balsams isn’t just a feature—it’s a core philosophy woven into every aspect of the resort’s redevelopment.

Commitment to Sustainability
Real Estate Investment

Opportunity Exclusive Resort Residences

For those who dream of owning a piece of this iconic destination, The Balsams offers a limited collection of luxury residences. These beautifully appointed homes provide owners with access to all the resort’s world-class amenities while offering privacy, exclusivity, and breathtaking views of the surrounding mountains and lakes. Designed with refined craftsmanship and premium finishes, these residences present a rare opportunity to invest in both lifestyle and legacy.

Opportunity Exclusive Resort Residences
Golf & Outdoor Recreation

Renowned Donald Ross Golf Course

The Balsams is home to a championship golf course designed by the legendary Donald Ross, whose vision shaped some of the greatest golf courses in the world. The course is a masterpiece, with rolling fairways, strategically placed bunkers, and awe-inspiring mountain backdrops. Whether guests are casual golfers or seasoned players, the meticulously maintained course provides an unforgettable playing experience in one of the most stunning natural settings in New England.

Renowned Donald Ross Golf Course

Team

Les Otten

Founder & Visionary Leader

For over four decades, Les has been a leader and entrepreneur in a wide range of pursuits including business, tourism, alternative energy, community development, and philanthropy. Creating business in the ski industry and sports world remains a steady passion for him even today. As influential as Les has been as a businessman, he has done even more for charities including founding two non-profit entities that focus on individuals with disabilities.

Alex Ritchie

Project Development & Financing

Bringing over a decade of experience in large-scale project development, Alex Ritchie specializes in project execution, financial structuring, and maintaining relationships with state and local officials. His expertise ensures a well-managed and strategically executed redevelopment of The Balsams.

Burt Mills

Mountain Planning & Operations

A veteran of ski resort design and construction, Burt Mills has played a key role in developing ski resorts across the U.S., including New England, Utah, California, and Montana. His intimate understanding of the ski industry is invaluable to The Balsams' expansion plans.

Ed Brisson

Real Estate & Resort Development

With more than 20 years of experience in real estate development, Ed Brisson has led projects including high-rise developments in San Diego and The Village at Mammoth Lakes. He now applies his expertise to The Balsams, ensuring a world-class resort experience.

Mark J. Miller

Financial Strategy & Operations

Mark Miller has held key financial leadership roles in major hospitality and gaming organizations, including American Skiing Company and multiple regional casino projects. His financial acumen and restructuring experience are pivotal to The Balsams' economic success.

Matt Young

Construction & Design Management

With over 30 years in construction and a strong background in building information modeling (BIM), Matt Young oversees project execution, ensuring cost-efficiency and best-value construction practices.

Rich McGarry

Ski Resort Business & Infrastructure

A ski industry veteran with over 35 years of experience, Rich McGarry has managed resort improvements at Killington, Sugarbush, and Bear Mountain. His expertise in lift systems, trail development, and snowmaking is crucial for The Balsams' ski expansion.

Michele Varuolo Cole

Resort Administration & Operations

Having spent over two decades in the resort industry, Michele Cole specializes in recreation management, golf training equipment, and alternative energy systems. Her knowledge ensures a well-structured and efficiently managed resort.

Hannah Campbell

Logistics & Community Engagement

A U.S. Air Force Academy graduate and former Logistics Readiness Officer, Hannah Campbell brings her organizational and marketing expertise to The Balsams. She is deeply involved in local nonprofits and community outreach initiatives.

Charlie Sullivan

Hospitality & Resort Operations

With 40 years of hospitality experience, including leadership roles at Sunday River Ski Resort, Charlie Sullivan is instrumental in managing The Balsams' renovation and operational strategy.

Philip Grant

Real Estate Sales & Marketing

Philip Grant has led luxury resort sales for The Four Seasons, The World Residences at Sea, and premier destinations in Aspen, Park City, and Quebec. His expertise ensures strong real estate sales performance for The Balsams.

Coralie Stepanian

Real Estate Sales Director

A licensed real estate professional with nearly 30 years of experience, Coralie Stepanian brings deep local knowledge and sales leadership to The Balsams' real estate program. Her lifelong connection to the property strengthens her role in community engagement.

Joe Casey

Real Estate Sales & Investor Relations

Joe Casey leverages his background in sales, relationship management, and outdoor recreation to promote The Balsams' vision to prospective real estate investors.

Christopher Howard, Esq.

Legal & Business Strategy

A partner at Pierce Atwood, LLP, and former COO of American Skiing Company, Christopher Howard specializes in resort development and capital market transactions. His legal expertise is instrumental in structuring The Balsams' redevelopment.

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