WAVERLY, Ohio — Waverly village leaders are considering an ambitious redevelopment vision that could replace deteriorating buildings with a boutique hotel, executive residences and rooftop hospitality — a concept planners peg in the low-to-mid $20 million range.
The Village Council took up the proposal, called “The Arch at North Street,” at its Oct. 7 meeting, where members were asked to support a state grant application to demolish the structure at 109 E. North St. and prepare the site for redevelopment, according to a project brief presented to council.
The immediate request is narrow: a resolution backing the Pike County Land Bank’s application for a state Building Demolition and Site Revitalization grant. The working figures list a $600,000 demolition and site preparation budget, with $450,000 — 75 percent — sought from the state and a $150,000 local match, though the brief stresses those numbers are preliminary planning estimates pending final eligibility review. The application is due Oct. 16 at 5 p.m.
The longer-term concept calls for roughly 36 hotel rooms, nine executive residential units, a conference and event floor, rooftop hospitality, ground-floor restaurant and retail space, and three levels of subsurface parking. A rendering shows a multi-story brick building with an illuminated rooftop terrace.
Village documents list the Ohio Valley Regional Development Commission, OhioSE/JobsOhio, the Pike County Land Bank and the village itself as partners, with the land bank serving as the grant applicant. Planning commission and county commissioner support are already in hand, according to the brief; still outstanding are the village’s support resolution, a final development agreement for the site, a detailed demolition budget and a letter from OhioSE.
The brief emphasizes the project remains conceptual: final scope, costs, grant eligibility, property terms and development commitments are all subject to further study and formal approvals. It also notes a historic home on the site would be retained as part of the future development vision, while the deteriorated structure would come down.
A separate discussion cited a $750,000 to $1 million working range for the 109 E. North property itself, with the building’s value to be determined by appraisal.
The stepwise plan calls for council support, a finalized grant package, land bank review, and submission to the state by the Oct. 16 deadline, with design, financing, and construction decisions to follow through separate approval processes.
