It began as an initiative by Mill Town Capital to acquire and renovate the iconic Bousquet Mountain ski area in Pittsfield, one of the oldest ski areas in the country. It transformed into a substantial investment in recreation and wellness facilities in southern Pittsfield, including adding a fitness center and nearby properties. The total recreational area now encompasses nearly 300 acres for outdoor activities, hiking, indoor athletic training, and more.
“Mill Town put over $100 million into the region over the past seven years. A significant component of that investment has gone in this neighborhood between Bousquet Mountain and Bousquet Sport,” said Tim Burke, CEO of Mill Town.
Mill Town Capital, founded in 2016 by David Mixer, is an impact investment platform. The term “impact investing” was coined in 2007 by the Rockefeller Foundation to describe how investors can use capital to benefit society and achieve positive financial returns. Mill Town’s local investments also include nearly 250 units of housing, restaurants, hotels, and other businesses in Pittsfield’s downtown and Tyler Street/Morningside neighborhoods.
“Our mission is to improve the quality of life in the region,” said Burke. “We do that through investments in businesses and real estate, longer-term capital investments in projects or assets like Bousquet Mountain or Bousquet Sport, and we have a philanthropic side that does purely charitable work with other nonprofits and organizations in the community.”
When Mill Town learned that Bousquet Mountain might close, it decided that it was a perfect fit for its mission and impact investment platform.
“Bousquet is an important asset for the local community first and foremost,” said Burke. “Most people from Pittsfield know it and have been to the mountain over the years. You can see it from all over the city. That’s why it was motivating to us to get involved. We did not want to see a local Pittsfield asset go away.”
A few months later, Mill Town acquired the Berkshire West Athletic Club across the street at the foot of the mountain on Dan Fox Drive and rebranded it as Bousquet Sport. They also purchased adjacent land, including “The Brick House,” owned by the former owner of Bousquet Mountain.
“All of this land is now integrated. It’s the mountain and the snow-making pond across the street. The parking lot at Sport serves as overflow parking for the ski area and events,” said Burke.
However, the businesses needed to become sustainable, meaning they could eventually make enough money to operate on their own.
“The infrastructure needed a lot of attention. The extent of the work needed was pretty severe,” said Burke. “Our initial thinking after buying Berkshire West was that we could spruce it up a little bit and run a business. Much like we found at Bousquet Mountain’s lodge, the existing building was tough to repurpose and renovate.”
The integrated properties under the Bousquet brand allowed Mill Town to re-think its approach.
“Dave had the vision to go bigger. There are a lot of communities across the country with spaces offering a wide variety of year-round indoor and outdoor activities and classes. In the Berkshires, there are a lot of gyms and fitness centers, but there are no integrated membership communities like he envisioned,” said Burke. “We also liked having more of a foothold in recreation.”
The old ski lodge was torn down and replaced with a modern 15,800-square-foot facility at a cost of more than $5 million. They rebuilt the snow-making system and modernized the chair lifts and rope tow.
“The quality of the ski surface is second to none. And I don’t mean just for its size. I mean second to none for anywhere,” said Burke.
Bousquet Sport required extensive renovations to fulfill the expanded vision with dedicated areas for tennis, pickleball, fitness, yoga and golf. The investment in the Sport facility exceeded $19 million.
Mill Town worked closely with the City of Pittsfield to make it happen. For example, Mill Town determined that their existing wells and septic system at Bousquet Mountain were insufficient for the planned growth. The city’s water and sewer connections on Dan Fox Drive did not reach Bousquet Mountain or Bousquet Sport.
“We went to our partners in the City of Pittsfield for help, and they were very supportive from the beginning. We worked closely with Mayor Linda Tyer and Michael Coakley, the city’s business development manager. That made everything pretty efficient,” said Burke. “The city used economic development funds to extend the water and sewer lines. The total investment from the city was about $1 million, which was supported by the City Council.”
In addition, the city helped Bousquet Mountain and Bousquet Sport with property tax breaks called Tax Increment Financing (TIF). The TIF for Bousquet Mountain was valued at about $1 million over five years, and a separate TIF for Sport was valued at $215,000 over 10 years.
Economic development is an important reason why the city makes these investments.
Thriving businesses hire people and encourage other thriving businesses.
“When I talk to companies about coming to Pittsfield, they always ask what workers will do when they’re not at work,” said Coakley. “I always talk about outdoor recreation, and now I always mention Bousquet Mountain and Bousquet Sport. These are great amenities. Their employees can come to Sport after work and have a great night. We have many young professionals playing pickleball or tennis and socializing.”
In the center of the Bousquet Sport facility is a large gathering area with a bar and big televisions. On either side are glass walls with a clear view of tennis and pickleball games. For tournaments, the televisions can be set to watch these games. Golf simulators cover the back wall.
“A lot of data is coming out about the social determinants of health and wellness. That is important for our community. So, we wanted Sport to be a center of social activity, too,” said Burke. “When people think about how often they use the center, I don’t want them to only think about the hours playing. I want them to think about how they saw Phil, Joe, and Steve five times this month and how we had a lot of fun. Or we hit the golf simulator and had social interactions. We want it to be an engaging experience.”
Significant increases in membership and time spent at the Sport facility show that the strategy is working.
“The level of participation in fitness classes and individual and group training has grown substantially. The participation and check-in rates are the highest we’ve ever had. The frequency of people coming to the facility has increased,” said Burke. “All of that comes from programming. We give people more reasons to come here and hang out.”
Mill Town is exploring ways to expand recreational opportunities with all the land around the Mountain and Sport. Hiking trails, cross-country skiing, an event space, residential, additional food and beverage options and small lodging concepts are being evaluated.
“The Berkshires are known for culture, beauty, and nature. I don’t think we’re well-known for outdoor recreation specifically. But I think they could be,” said Burke. “If you look around the country at other areas that have grabbed that outdoor recreation mantle, such as the Northeast Kingdom or Asheville, North Carolina, it’s been a big economic development engine for them. It’s an opportunity for the Berkshires.”
Burke is grateful for all the partnership with the city.
“I don’t think we could have done the Bousquet projects without the city. They were there to help at every step along the way,” said Burke. “The city is great to work with. We’ve never had an ask that the city has said no to. There’s not much more you can ask for.”
– by Roger Matus
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