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.
Archive for the ‘News’ Category
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.
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.
Opportunity Zone Investing During COVID-19 : An Interactive Discussion
[VIDEO] May 12, 2020 Steve Glickman, who co-authored the Opportunity Zone legislation and serves on the Arctaris Board of Directors, joins Jonathan Tower, Arctaris Founder & Managing Partner, to speak about Opportunity Zone investing during COVID-19. They explore various topics of interest including the evolving landscape of OZs, principal-protection features for OZ investors, information on taxpayer deadline extensions, the impact of COVID-19 Emergency Disaster Declarations on OZ regulations, insights on changes to government policies and procedures, as well as an interactive Q&A session.
Arctaris Letter on our COVID-19 Response
The Arctaris team wishes you and your family health and well being during the COVID-19 pandemic. Working remotely and sheltering in place, we remain committed to supporting investors, customers and stakeholders.
How Arctaris Avoids Gentrifying Opportunity Zones
While the Opportunity Zones initiative is bringing much-needed economic development to distressed neighborhoods throughout the country, concerns about whether these neighborhoods will succumb to gentrification and displacement have been raised by community leaders and residents. To help shed light on the matter, we asked Jonathan Tower, Managing Partner of Arctaris Impact Fund, to weigh in on gentrification in Opportunity Zones.
The Ambitious Plan to Create a Ski Utopia in Maine
But what if somebody tried to create a ski utopia? And what if they waged their campaign in the hardscrabble hinterlands of western Maine? Arctaris Impact Fund, a Boston investment firm that specializes in shoring up struggling local economies, is doing just that. On January 31, Arctaris spent $6.5 million to purchase a beloved but troubled backwoods ski mountain—Saddleback Maine, which has been shuttered for the past five seasons. Arctaris plans to radically renovate the base lodge this summer. It’ll open the lifts in December and will eventually spend $38 million in hopes of turning Saddleback into a funky and humane nirvana, replete with affordable housing, fair compensation, day care, and bus transport for its workers—and also, yes, crazy-steep trails and a laid-back lodge where the PBR will flow at an amiable people’s price.
Arctaris Impact Fund To Revitalize Maine’s Saddleback Mountain Ski Resort
Boston-based Arctaris Impact Fund, LP, announced Friday, January 31, the official purchase of Saddleback Mountain Ski Resort for $6.5 million. The firm plans to invest $38 million into Maine’s third-largest ski area and has tapped outdoor marketing agency Origin to lead a rebranding.