NORTH CONWAY, NH — Cranmore Mountain Resort has reached a significant milestone in its ongoing base-area transformation with the closing of the final residence at The Lookout. All 69 residences across the first four residential phases, Kearsarge Brook Phases I and II, Fairbank Lodge and The Lookout, have now been sold.
The milestone is part of a much larger vision for Cranmore that began following the purchase of the historic North Conway ski area by Brian and Tyler Fairbank in 2010. Since then, substantial investment has been made throughout the resort and its base area, including new and improved mountain facilities, skier services, and four-season amenities. More than $54 million in residential sales were generated through the first four phases, with proceeds from the residential component helping fund Cranmore's new base-area facilities.
The first residential phase began with 18 residences at Kearsarge Brook, followed by 19 in Phase II. Fairbank Lodge added 15 residences while also incorporating two floors of new lodge space and a 7,000-square-foot slopeside patio serving the resort. The Lookout added another 17 residences and space for Cranmore's Ski Patrol.
For Cranmore General Manager Ben Wilcox, that connection between the residential component and improvements to the resort is an important part of the story.
“The residential development proceeds all went into paying for new ski facilities that are enjoyed by our residents, season passholders, day visitors and the community at large,” Wilcox said. “The resort can now meet the needs of today's skiers in our base area, and we have also been able to expand functions and weddings at the resort during the spring, summer and fall.”
Wilcox said the residential expansion also helped Cranmore avoid borrowing money for its base-area facilities, allowing the resort to direct its funding to improvements on the mountain that can be enjoyed by all visitors.
Now entering its 89th season, Wilcox said Cranmore's focus remains firmly on the future.
“Our goal is to equip the resort with amenities that will keep Cranmore operating for another 89 years,” he said. “A healthy Cranmore supports all our local businesses that rely on tourism to the region.”
Michele Sawyer and Eileen Difeo, lead agents for Cranmore Real Estate with Coldwell Banker Lifestyles, have been involved with Cranmore's residential development since the summer of 2017 and have watched much of the original vision become reality.
“I think about our first handful of buyers often, most of whom are still owners,” Difeo said. “Back then, they really believed in the future of the development and took a leap of faith to jump on board so early. There were promises of a pool, a new ski lodge, a new bar and more. It's been incredible to see all these things come to fruition over the years.”
Difeo said one of the most rewarding parts has been watching a community form around Cranmore, with families creating lasting friendships and children growing up spending their winters there. Some of the children whose parents were among the early buyers are now entering college.
For Sawyer, the experience has represented what she has always enjoyed most about real estate: bringing buyers and sellers together and having the opportunity to work closely with one resort community over many years.
“This has been such a wonderful part of my career,” Sawyer said. “Building relationships with Ben, Eileen and all the families we have been fortunate to meet has been incredibly rewarding. I look forward to what comes next and would love to be here to see Cranmore's residential vision through to completion.”
With the first four phases now complete, attention will eventually turn toward the next and final chapters of Cranmore's residential and skier services plan. Two additional buildings, representing approximately 35 residences and a new restaurant, retail and rental shop, remain part of the long-range vision for the base area. While there are no plans to begin another phase this year, the remaining buildings continue to be part of Cranmore's vision for completing the base-area transformation.
For Cranmore, Sawyer, Difeo and Coldwell Banker Lifestyles, the sellout of the first four phases is both a milestone worth celebrating and an opportunity to look ahead to the eventual completion of a vision that has been taking shape for nearly a decade.