Thanks to Jim Clarke, we now have the full scoop on Evergreen Valley. The following is taken from his research paper "Trials and Tribulations: A Social and Economic History of Skiing in New England, 1920-1980"
Of all the ski facilities that failed between 1960 and 1980, Evergreen Valley perhaps best symbolizes the reckless, uncontrolled, wildcat investing that sought to capitalize on the popularity of skiing and winter recreation. Unfortunately, because the resort had close financial ties to the town of East Stoneham, Maine, its failure had a deleterious and lasting effect on the local economy. During the early 1970's East Stoneham's civic leaders proposed to build a small ski area, with the hype that it would bring needed income to the town and keep its younger population from moving away due to a lack of jobs, especially during the wintertime. Originally the project called for a modest initial investment of $250,000 for a lift and a prefabricated steel building as a base lodge. In conjunction with the neighboring town of Lovell, East Stoneham leaders set up a joint investment company to sell stock. With only $35,000 raised in the first year, it soon became apparent that the returns from local contributors were insufficient to fund overall construction costs. Eventually the town's council hired an outside promoter to gather additional investors. Within a short time several promoters and investors radically changed the development plans from a simple mid size ski area to a multi-purpose, four season mega resort.
A state agency known as the Maine Guarantee Authority eventually insured any bonds on the resort. This made "the venture appetizing to capital well beyond the confines of East Stoneham. Consequently, two New York based firms, the Franklin National Bank of NY, and the bond house F.I. duPont, Glore Forgan & Co. dramatically expanded plans for the resort. Franklin National Bank subsequently went bankrupt over the resort. New proposals envisioned a 2000 acre, four season resort that included a lakeside marina, condos, a golf course, a heated outdoor pool, domed tennis courts, and a motel. Additionally, developers constructed twelve ski runs where original phased plans called for just one or two. As construction costs spiraled the money soon ran out. In a cruel twist of fate, Evergreen Valley opened for skiing in 1973, a year in which a lack of snow and a looming energy crisis closed numerous facilities, some permanently. By the good winters of 1975 and 1976 Evergreen Valley had closed again due to bankruptcy. Possibly the most devastating legacy of Evergreen Valley was the effect on East Stoneham. In 1973, Maine passed a controversial school funding law that, because of a lush new resort within its borders, had the effect of doubling East Stoneham's assessment, a burden it could not bear since Evergreen Valley produced no tax revenue. Eventually the state rescinded its assessment due to the depressed regional economy encompassing East Stoneham and the neighboring town of Lovell. Today the overgrown trails and abandoned buildings of the defunct Evergreen Valley Ski Area stand as a mute testimony to East Stoneham's' worst financial debacle and the 1970's craze to cash in on skiing's popularity.
Here is a listing from 1979, although it
had closed by then.
1979
(Eastern
Ski Map)
3 Double chairlifts,
12 trails (novice through expert)
Parking, ski school,
cross country, snowmaking
1050 foot vertical
drop
NE and E exposure