Dixville Capital LLC has filed four site plans with New Hampshire's Coos County Planning Board in an effort to begin Phase I of a $165 million expansion and rehabilitation project at The Balsams resort. Dixville Capital also asked the planning board to expedite consideration of the applications, the New Hampshire Union Leader reported.
Phase I of the resort's construction project will include more than 450 rooms, a spa and market, an expansion of the former Wilderness Ski Area and a gondola lift.
According to Les Otten, owner of Dixville Capital, his team's collaboration with the planning board would "allow us to meet critical project timelines," as he asked the board to consider the applications for completeness Aug. 23, with a public hearing to follow about a week later, the New Hampshire Union Leader reported. A vote would then take place at the start of September.
Dixville Capital has taken five percent reservation deposits on "nearly $25 million worth of real estate," said Otten, who added that the company's financing efforts were coming along, and that there is a chance they could close on the necessary funds to begin construction within 60 days, the New Hampshire Union Leader reported.
