New Hampshire
Balsams Construction Postponed
Balsams Construction Postponed
Developers cite state bond bill as reason for delay.
Monday, June 1, 2015,
In an article recently posted on the Balsams Resort web site, the developers announced the anticipated June 1 construction start date has been postponed until later in the summer.

Project spokesman Scott Tranchemontagne noted that over 120 people have put down real estate deposits. According to the Balsams web site, the deposit is non-binding and fully refundable. At $1,200 per person, at least $144,000 has been deposited so far for the $143 million phase 1 project.

In addition, Provident Bank is reportedly lined up to provide the $28 million state-backed Business Finance Authority loan.

Many steps are still needed in order for construction to start later this summer, including rezoning, permitting, and final approval by the Governor and Executive Council of the loan.

The group is still hoping for a 2016-17 reopening.

  • Balsams Construction Could Begin by Late Summer External link

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