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.
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