DIXVILLE NOTCH - The ownership group of the Balsams Grand Resort in Dixville Notch, New Hampshire, is pleased to confirm that it has entered into agreement with Dixville Capital, LLC, a company owned by Les Otten, to establish a viable path forward for the redevelopment of the Balsams.
Closing the transaction is contingent on a number of conditions to be worked out with interested third parties.
In announcing the agreement, Dan Dagesse and Dan Hebert, the principals behind the Balsams Grand Resort, and who will continue as stakeholders, said, "Les Otten has built some of the best resorts in the United States, saved Fenway Park and has made northern New England his home for the past 42 years. Dixville's unique and majestic location offers great potential, and this agreement represents a first step in securing a move forward for the North Country's economy."
"The opportunities at the Balsams are significant," Otten said. "There are few recreation sites in North America that have such strong potential for visitors over all seasons. There's a relatively short time table for moving forward and many hurdles to clear, but preliminary discussions are promising."
Otten said talks are preliminary, focusing on big concepts as opposed to specific details.
"We are not prepared to discuss development plan details at this time because we are still working through fluid concepts. We are working together and combining our resources to look at creative ideas toward restoring the Balsams as a true word class resort that will create new jobs and invigorate the North Country's economy," Otten said.