The Gamble Mill may see new life soon.
Brothers Chris and Jonathan Virgilio, who own Virgilio Investments IV LLC, approached the Bellefonte borough around June to put a contract on the former Gamble Mill property, according to Assistant Borough Manager Don Holderman.
Chris Virgilio is a project development manager for a real estate company based in Charlottesville, Virginia, and Jonathan Virgilio is both a realtor with Perry Wellington Realty and a math teacher at Bellefonte Area High School.
Before buyers Shauna McClure and Gary Werkheiser let their contract on the Gamble Mill expire in June, they were planning to open a luxury hotel, high-end restaurant, an authentic Irish pub and a craft brewery called The Inn at Lamb’s Mill. Since the Gamble Mill restaurant closed in 2015, it has sat vacant, fielding a string of potential buyers that never stuck.
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Since June, the Virgilio brothers have been doing their “due diligence” on the 160 Dunlap St. property, said Holderman, which is currently listed at $1 million on realtor Derek Canova’s page on the Kissinger, Bigatel and Brower website. They hired an architect to look the building over and are looking at prices for contractors.
At the Oct. 10 meeting of the Susquehanna Economic Development Association Council of Governments’ (SEDA-COG) Joint Rail Authority, the board approved Chris Virgilio’s request to lease the JRA parking lot associated with the Gamble Mill property, located on the north side of West Lamb Street.
According to JRA meeting documents, Virgilio needed to include the lease for the parking area when submitting the documents for bank loan approval.
The lease term is 10 years and the annual fee is $3,000, subject to Consumer Price Index increases.
The closing on the Gamble Mill property is tentatively scheduled for the end of November, confirmed the brothers, who declined to say more on the topic. The brothers are still “working on their numbers,” Holderman said.
“We’re certainly optimistic” that the sale might go through, he said.