An ongoing resort redevelopment project in the New Hampshire town of Dixville has been delayed because of changes in financing.
The Caledonian-Record reports The Balsams Grand Resort project spokesman Scott Tranchemontagne says delays have been caused by updates on an appraisal. Northern Bank and Trust, the project’s chief lender, still has to submit a loan application to the New Hampshire Business Finance Authority.
The BFA will review the appraisal before it is approved. The process could take up to two months.
The ambitious Balsams Grand Resort project, centered around an 1866 luxury hotel that had fallen into disrepair, is headed by former Maine gubernatorial candidate and ski mogul Les Otten.
Tranchemontagne says the project lost about a month due to appraisal changes. Tranchemontagne says he’s hopeful construction will start by late this fall.
The Balsams renovation project includes an expansion of the Wilderness Ski Area. The proposed 11,000-acre four-seasons resort would also include an 18-hole golf course, fitness center, lakeside campus and aerial adventure park.
Officials hope to open part of the project by the start of the 2018 ski season.