FAME Approves Additional Saddleback Financing as Resort Prepares to Reopen

Augusta, ME, November 24, 2020  The Finance Authority of Maine has approved state new markets tax credit financing for Arctaris Saddleback Co. LLC, the owner and operator of the Saddleback Ski Resort in Rangeley.  “FAME is pleased to help with additional financing for this important project, which will help Saddleback pay for the costs of equipment and construction associated with reopening and operating this season,” Dave Daigler, FAME’s board chair, said in the release. “We are happy to help restart this beloved Maine ski mountain and to help stimulate year-round economic development in Rangeley and western Maine. Click here to learn more

Against All Odds, Saddleback Ski Resort Will Reopen This Season

Boston, MA, November 11, 2020 Folks across New England have watched for years to see what would happen to this beloved ski mountain. Deals were brokered, and then fell through, one by one. But in early 2020, a deal was finally sealed, with a surprising partner.  Read more at the Boston Globe.

Colorado Receives Opportunity Zone Housing Investment from Arctaris Impact

Boston, MA October 29, 2020 Arctaris Impact Investors, LLC (“Arctaris”) announced two Opportunity Zone investments to provide workforce housing for low-income communities in rural Colorado. Total development cost is estimated at $60 million for these projects, which include a 100-unit workforce housing project in Glenwood Springs, a 96-unit workforce housing project in Grand Junction and a 74-unit glamping campsite also in Grand Junction. The properties address an immediate need for accessible workforce housing as workers in hospitality, healthcare and trades are getting priced out of the area as more affluent populations move to the region. Read the press release to learn more.

Milken Institute Global Conference: Arctaris Discusses Resilient Infrastructure

Jonathan Tower, Managing Director of Arctaris, discussed infrastructure needs and investment in this Milken Institute panel discussion on October 19, 2020. Jonathan joined fellow panelists including Nan Whaley, Mayor of Dayton Ohio and incoming President of the US Conference of Mayors; Debbie Dingell, US Representative, Michigan; Katherine Perez, Associate Principal, LA Cities Leader, Arup; Philip Washington, CEO, LA Metro; and moderator Margot Brandenburg, Director of Mission Financing, Ford Foundation. Resilient Infrastructure: Adapting to Turbulent Times from Milken Institute on Vimeo.

Arctaris Impact Welcomes U.S. Navy Officials to Board of Advisors: Secretary Ray Mabus & Acting Under Secretary Tom Hicks

Boston, MA October 6, 2020 Boston-based investment firm Arctaris Impact Investors, LLC (“Arctaris”) today announced the appointment of former U.S. Secretary of the Navy Ray Mabus and former U.S. Acting Under Secretary of the Navy Tom Hicks to its Board of Advisors. Read the press release to learn more.

Arctaris Impact Investors Announces $40M Investment into Erie Opportunity Zones

Erie, PA, June 30, 2020 Through a new partnership with Erie Insurance and The Erie Community Foundation, Arctaris will provide funding to revitalize Erie’s downtown corridor. Read the press release to learn more.

Arctaris Impact Investors Announces $25M Opportunity Zone Initiative to Support COVID-19 Recovery

June 12, 2020 Arctaris Impact Investors Announces $25M Opportunity Zone Initiative to Support COVID-19 Recovery in partnership with former Mayor Hon. Michael Nutter A Nutter also past President of the United States of Mayors. Click here to learn more

Despite pandemic, Saddleback resort relaunch remains on track

June 10, 2020 Significant upgrades to Saddleback Mountain, the ski resort in Rangeley, remain on track despite the pandemic.  Boston-based Arctaris Impact Fund LP bought Saddleback in January, paying $6.5 million for its 6,400 acres, including the ski trails and buildings. Arctaris subsequently launched a multiyear $38 million upgrade of the resort, which is Maine’s third-largest ski area. The resort has been closed since 2015.  Upgrades include a high-speed detachable quad chairlift, redesign of the lodge, expansion of the snowmaking system and the addition of mountain bike and fat bike trails. Click here to learn more