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Waverly Downtown Development

Waverly, Iowa was awarded a 3 Million Dollar Iowa Economic Development Authority’s Community Development Block Grant.

Waverly’s Multi-family Rental Unit Production Grant was funded $3 million for the construction of 18 new units in vacant upper and lower stories downtown. The competitive funding, $12 million of which was available for communities statewide with populations 50,000 and under, was awarded by the Iowa Economic Development Authority’s Community Development Block Grant. Nineteen communities across the

state received the federally funded awards which will assist communities to recover housing lost during the catastrophic flooding event of 2008. Waverly’s project consists of four property owners and five buildings containing a total of 18 units located in Waverly’s Main Street District. The total project will invest over $3.5 million into Waverly’s downtown buildings. Recipients of the award include 106 W Bremer Ave; 98 E Bremer Ave; 104 E Bremer Ave; 112-114 E Bremer Ave; and 118 E Bremer Ave;

This project is in direct response to the City of Waverly’s Downtown Master Plan, an initiative administered by the Waverly Chamber of Commerce in 2012. Residential upper story development is one of the top initiatives of the plan. “This is a huge achievement for Waverly that will accelerate the work of the Downtown Master Plan, creating attractive apartments that promote downtown living,” stated Bill Wilson, Chamber Board Chair. Most successful downtown commercial districts combine first floor retail and service offerings with residential uses in upper floors. While Waverly’s Main Street District experiences high occupancy on ground floor levels, over 70% of upper stories are currently vacant, and many have been for 50 or more years. The addition of 18 new units in Waverly’s Main Street District will provide economic vitality, utilizing existing infrastructure and creating a denser population base. One new resident living in a downtown district can create as much economic impact to a downtown district as four new jobs. “This project is incredibly exciting for Waverly,” says Emily Neuendorf, Chamber of Commerce Executive Director, “The biggest economic beneficiary of upper-floor housing is actually not the property owner, but the entire downtown district.” According to a recent study prepared for Main Street Iowa by PlaceEconomics in Washington, D.C., a couple living in an upper floor downtown apartment paying $500 in rent per month will add nearly $20,000 per year to the downtown economy, strengthening local businesses and the community at large.

“This will add vitality to our downtown area with more people living in the area, thus more shoppers and diners,” stated Mayor Bob Brunkhorst. “We are excited to see parts of our community’s downtown master plan accomplished.”

Photos from Waverly Downtown Development's post

07/06/2021

OCCUPIED! Gorgeous newer construction in historic building. Move in ready.
118 E Bremer Apt 301. Open floor plan with spectacular view of Bremer Ave. Three huge windows fill this unit with natural light. 740 square feet. Original 1895 hardwood floors have been restored. 13 foot ceilings. Appliances include dishwasher and washer/dryer. Rent is $750 per month and includes water, sewer, garbage and recycling. Tenant responsible for electric bill (average is $85 month). One year lease with $750 deposit. No smoking. No pets.
Call property owner at 319-352-1806 to see this.

11/10/2020

RENTED 98 E Bremer Ave. Apt 202. One bedroom. Large windows with 1st Ave NE view (looking towards Root). Interior entrance to the Wooden Foot. Next to Fidelity Bank of Waverly. Bedroom is carpeted, rest of the unit is hard wood. 585 Square Feet. $650 per month. Includes water, sewer and garbage. No smoking. No pets. Newer appliances, including washer and dryer (photos were taken prior to appliance installation) . Available December 1. Contact Angie at 319-277-3001.

09/19/2020

OCCUPIED Apartment for rent in historical building downtown Waverly!
Small loft style, one bedroom apartment, perfect for a couple or a single person! Located in the basement of Renewed Purpose (104 E Bremer). Sprinkler system installed in entire building. Private entrance from alley. Some natural light with non-egress windows. Stainless steel refrigerator, stove, microwave and dishwasher. Stackable washer/dryer in bathroom. 585 Square Feet.
Rent is $675 per month. Includes garbage and recycling. Tenant responsible for water and electric (very energy efficient). No smoking. No pets of any kind. One dedicated parking space in Root parking lot. Six or twelve month lease. This is the only residential unit in this building and is very private and secluded. Because reconstruction was part of a grant, there are income requirements. Income must be below $50,100 for one person. You are not eligible to rent this apartment if you make more than that. Call property owner at 319-352-1806 or send email: [email protected] to see this!

05/31/2018

OCCUPIED: 98 E Bremer Ave. Apt 202. One bedroom. Large windows with 1st Ave NE view (looking towards Root). Interior entrance to the Wooden Foot. Next to State Bank of Waverly. Bedroom is carpeted, rest of the unit is hard wood. 585 Square Feet. $625 per month. Includes water, sewer and garbage. No smoking. No pets. Brand new appliances, including washer and dryer. . Available June 15. Contact Angie at 319-277-3001.

04/27/2018

All units are currently occupied. Send us a message if you would like to be placed on the wait list!

03/19/2018

OCCUPIEDTwo bedroom unit. Very nice basement unit below the Chamber of Commerce (118 E Bremer Ave. Downtown Waverly, IA). Private alley entrance. 1100 Square Feet. Rent is $895 per month. Includes water, sewer, garbage and recycling. $895 deposit. Includes washer and dryer. Furnished if desired! One year lease. No smoking. No pets. Send Private Message to take a look or call 319-352-1806.

01/30/2018

THIS UNIT IS NOW RENTED!

Great downtown location. $625 per month. Water and Sewer included. One bedroom upper story loft style apartment located at 98 E Bremer Ave. All new appliances furnished, including washer and dryer. Unique must see property. Large windows with 1st Ave NE view (looking towards Root). Interior entrance to the Wooden Foot. Next to State Bank of Waverly. Bedroom is carpeted, rest of the unit is hard wood. 575 Square Feet. Call Angie with questions or to set up a viewing. Phone: 319-277-3001

12/29/2017

CURRENTLY OCCUPIED: Gorgeous new construction in historic building. Month of January FREE with qualified application and deposit of $670. Move in ready.
118 E Bremer Apt 301. Open floor plan with spectacular view of Bremer Ave. Three huge windows fill this unit with natural light. 740 square feet. Original 1895 hardwood floors have been restored. 13 foot ceilings. New appliances include dishwasher and washer/dryer. Rent is $670 per month and includes water, sewer, garbage and recycling. Tenant responsible for electric bill (average is $85 month). One year lease with $670 deposit. No smoking. No pets.
Because reconstruction was part of a grant, there are income requirements. Income must be below $44,100 for one person and $50,400 for two people. You are not eligible to rent this apartment if you make more than that. Call property owner at 319-352-1806 to see this.

08/15/2017

OCCUPIED! Two bedroom unit with spectacular view of Bremer Ave, including a glimpse of the dam. Also has two bathrooms. Bedrooms are carpeted, rest of the unit is hard wood. 1005 Square Feet. Includes appliances.
$850 per month. Includes water, sewer and garbage. No smoking. No pets.

This is located downtown Waverly in the historical building at 98 E Bremer Ave. Entrance at The Wooden Foot. Next to State Bank of Waverly.

Email Angie at [email protected] or call 319-277-3001 for a showing!

All applicants must complete a form and income will be verified. More information about this available with application.

03/31/2017

THIS UNIT IS NOW RENTED: Two bedroom unit. Very nice basement unit below the Chamber of Commerce (118 E Bremer Ave. Waverly, IA). Private alley entrance. 1100 Square Feet. Rent is $950 per month. Includes water, sewer, garbage and recycling. $950 deposit. Includes washer and dryer. Furnished if desired! One year lease. No smoking. No pets. Send Private Message to take a look or call 319-352-1806.

11/13/2016

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Waverly Downtown Development

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