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Robert Powell, III// July 30, 2018//
The Gloucester Revolving Loan Fund has bought a century-old bank building in Gloucester for $600,000.
In partnership with the Gloucester Main Street Preservation Trust, the fund will launch a feasibility study on the revitalization of the 10,500-square-foot building at 6548 Main St.
The study is being supported by a grant from Virginia Main Street, a preservation-based economic and community development program.
The building was operated as a SunTrust bank branch until last year. SunTrust sold the property to a real estate investment trust in 2010.
The main part of the building was built in 1913.
The Gloucester Main Street Preservation Trust secured a $25,000 grant from Virginia Main Street and has budgeted an additional $10,000 to complete the feasibility study.
