A landmark Jamestown restaurant is being sold, and the new owners plan to expand the Ironstone at 516 W. Fourth St. in a $550,000 project.
The Jamestown Local Development Corp. Tuesday approved a $95,000 loan to William and Belen Moore of Erie, Pa.
"The loan is part of a $550,000 project which will ensure the continuation of this downtown landmark business well into the future," said Samuel Teresi, Jamestown development director.
The Moores own and operate the Bel-Aire Hotel and food service in Erie, Pa., and have 26 years of experience in the restaurant business.
"The project is expected to retain the current 21 employees, and with the addition of a banquet and catering service would increase employees by another five full-time positions over the next two years," Teresi said.
Because the loan is more than $50,000 it requires approval from the City Council.
The Ciancio family has operated the Ironstone since the late 1960s. The four-story brick building was heavily damaged by fire in December 1994, but the restaurant reopened the following spring after rebuilding.