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Specialized Developer Assumes Interest in Amerbelle Textiles Campus

The transfer from a local non-profit holding company closed on Thursday.

Ownership of the Amerbelle Textiles property on East Main Street has been transferred to a developer that specializes in "adaptive reuse" projects.

It had been owned by the locally based non-profit Hockanum Industrial Development & Venture Corp. Town officials, after a recent tour of the property, said major sections of the campus, which stretches from 104 East Main St. to 5 Brooklyn St., were unsafe and were recommending demolition. The Town Council had set aside $75,000 to keep the buildings safe over the winter while future plans were being worked out.

Late Friday morning, HIDVC President Gary Wolff announced said that the non-profit company, composed of "volunteers from the Vernon area," has transferred its interest in the property to Bridgepoint Funding Alliance, LLC. 

The closing took place on Thursday, according to property transfer records in the town clerk's office.

Bridgepoint has a 1 Gold St. address in Hartford, according to a real estate conveyance tax form.

"The acquiring entity is comprised of experienced developers familiar with adaptive reuse projects of this magnitude," Wolff said in a news release.   "We believe the developers commitment to tackling several challenges that are currently adversely affecting the property is in the best interest of the Town of Vernon." 

He added, "More information will be made available by the developer when the time is appropriate."

Wolff continued, "Since receiving word of Amerbelle Textiles anticipated closing back in June, just four short months ago, we have continued to work in accordance with our bylaws to redevelop and market industrial distressed properties that need to find a new home in the for profit marketplace.  We thank the town for the confidence they have had in us for the past 15 years, and are excited about the future redevelopment of this site."

Vernon Economic Development Coordinator Shaun Gately deferred comment to Wolff's news release.

According to Wikipedia, Adaptive reuse refers to the process of reusing an old site or building for a purpose other than which it was built or designed for.

It is a common term in brownfield reclamation projects.

Town officials said the tern "brownfield" needs to be used loosely in the case of Amerbelle. Mayor George Apel said this week that cleanup at the property would be minor, but "typical" of a factory from that period.

Amerbelle sates back to just after the Civil War.

gerald gergler October 19, 2012 at 10:00 PM
ella iver time i know of your existance down there i still have your card you wanted pictures of the falls but at this time it is so overgrown it would be fruitless hopefully over time this will change
john a October 20, 2012 at 12:45 AM
hello, its great to hear news that rather than tearing down the whole building ,just the parts that need it is great , Amerbelle is a part of rockville,s history and fabric , congrats to all who are on the same page to save our history !
gerald gergler October 20, 2012 at 01:09 AM
lets hope it will take place
Danno October 25, 2012 at 01:01 PM
Good point Elle, if the unsightly add-ons were removed, ugly power lines redirected underground, historic architectural features accented and restored, and green space added..... we have a winner. This all takes a lot of time, planning, and money. I hope that these projects are mostly privately funded because it can be very difficult to secure federal historic funds. This shows when it comes to the Talcott Mill (RT-30 by VW Dealer) where funding has been turned down more than once. They are trying again for federal funds with hopeful positive results in November. This issue is the massive amount of applicants across the US that compete for federal funds.
meowkats4 October 25, 2012 at 01:12 PM
Yes, I do hope we see it take place and not wait YEARS and YEARS!! With postponements and excuses!!!

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