copyright the Chronicle January 11, 2017
by Joseph Gresser
NEWPORT — Newport is reportedly gaining a new business, but is losing two others.
A vacant Main Street building may be slated for redevelopment, but up the street, a toy store is closing. In addition, the manufacturing company that took over the former Vermont Teddy Bear factory has shuttered its doors.
Its buildings and equipment have been foreclosed on and are be auctioned off later this month.
Burlington developer Ernie Pomerleau told the Newport City Council recently that his company has found a buyer for the old J.J. Newbury building on Main Street.
At the council’s December 19 meeting, Mr. Pomerleau said, “We just sold the Fishman Building, and I think you’ll see something moving forward that will prove advantageous.”
Mayor Paul Monette pointed out that Mr. Pomerleau meant the Newbury building, which most recently housed a bedding showroom.
Mr. Pomerleau’s father, Tony Pomerleau, bought the building in 2011 and sold it in November of 2011 to TML Commercial, LLC, a St. Albans company owned by Vincent Paradis, according to state records.
City Clerk and Treasurer James Johnson said he does not know when or how Mr. Pomerleau regained possession of the building.
Mr. Pomerleau told council members that the new owner of the property plans to develop “workforce housing and additional retail space” on the site of the Main Street building.
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