20-lot subdivision proposed at Saddleback

A drawing shows shades of green and words.

Site plan / Courtesy Saddleback Saddleback in Rangeley is proposing to develop a 20-lot “ski-in, ski-out” neighborhood along one of its easier lower-mountain trails called the Morning Glory.

Write a Comment

By Laurie Schreiber

Saddleback in Rangeley is proposing to develop a 20-lot “ski-in, ski-out” subdivision along one of its easier lower-mountain trails called the Morning Glory.

The proposal needs approval from the Maine Land Use Planning Commission.Saddleback is owned by Boston-based Arctaris Impact Fund LP, which recently submitted a permit application to the Land Use Planning Commission and started advertising the lots to take purchase reservations, Matthew Dieterich, the resort’s CEO, told Mainebiz.

The lots would offer “a blank canvas” to create a mountain home, the resort said. Each lot would be on about one-half acre, with some slightly larger. The majority would be "ski in, ski out" and would be located on the existing Morning Glory trail or a trail that would be relocated, Dieterich said.

Site work would include clearing, construction of a roadway to access the lots and installation of sewer, water, power and fiber utilities. There’s no cost estimate yet.

Buyers would bring in their own architect and builder. There would be architectural guidelines that would include standards on height, size, massing, color patterns and materials but would nevertheless allow some creativity, he said.

Lot prices would be in the $350,000 to $500,000 range.

The proposed development is close to 22 acres, which would include open space as well as a portion of the land that’s not buildable due to the presence of streams and wetlands.

Mountain access

There have been number of housing developments on the mountain since the late 1970s, Dieterich said. More recent projects include an A-frame subdivision. All together, the mountain is home to more than 170 housing units, the majority of them condominiums, said Dieterich.

“We understand here at Saddleback that our continued path to growth and long-term financial success is for people to have ways to have access to the mountain,” he said. “The biggest single determinant to that is having a place to stay on the mountain.”

The Morning Glory subdivision will be a little different from other developments on the mountain in that it will likely take more time for the homes to be built.

“There’s no prescribed build requirement, so some people will buy lots and sit on them for years; others will be in the design process immediately,” he said. “We don’t control all of that. The biggest thing for us is creating the opportunity for people to be here on the mountain.”

The plan is to work with a regional bank on project financing, with Arctaris providing the equity, he said.

Other real estate development plans include a contract with CBRE, a global commercial real estate firm, to try to find a joint venture partner to develop a hotel on the mountain, he said.

Steady growth

Arctaris bought Saddleback in 2020, paying $6.5 million for its 6,400 acres, ski trails and buildings, and launched a multiyear $38 million upgrade of the resort. Saddleback is Maine’s third-largest ski area but, before Arctaris took over, it had been closed since 2015.

Saddleback was the largest employer in Rangeley prior to its shutdown in 2015. Arctaris’ investment allowed the resort to rehire 200 employees and to bring back 70,000 skier visits, according to the firm's 2024 impact report.

Since then, investments have included installation of new high-speed chairlifts and snow-making and grooming equipment, and construction of a pump house, a mid-mountain lodge, on-mountain staff housing called Saddleback House, a mid-mountain restaurant called the Nest, and a solar farm that produces double the electricity needed to operate the resort, the report says. Mountain bike and fat bike trails have been added.

The resort has been growing its warm-weather market with activities such as lift-served mountain biking, now in its third year and connecting to a broader network of trails in the region. Scenic lift rides began last summer and the number of days open for the activity “dramatically expanded” this year, he said.

At the Nest, the resort started offering brunches, which are generally sold out.

Today, the mountain hosts approximately 90,000 skier visits each season, according to the report. It has 225 employees; 60 are full-time, year-round.

“We feel like we’re providing competitive jobs with solid benefits in an area that could use the growth,” said Dieterich.