Investing in the Heart of Waterville

Downtown Waterville is the community’s most cherished asset and its primary destination for tourism and commerce. The WCIC is dedicated to transforming this historic riverfront district into a vibrant, mixed-use hub. By leveraging Downtown Redevelopment Districts (DRD) and strategic public investments, we are actively recruiting experience-based retail, dining, and boutique hospitality to coexist with our rich heritage.

Core Capabilities

Downtown Redevelopment Districts (DRD)

To accelerate reinvestment, the City has established Downtown Redevelopment Districts (DRD). This powerful economic tool captures the incremental growth in property taxes from improvements and redirects those funds back into the district. These revenues create a dedicated pool of capital used to issue loans to business owners and grants to historic property owners for renovations, ensuring the economic viability of our heritage buildings.

Public Realm & Connectivity

Revitalization goes beyond individual buildings; it requires a world-class public environment. We coordinate public-private partnerships to enhance the pedestrian experience, from the recent completion of Parker Square to the expansion of riverfront access points. Our focus is on connecting these assets through improved wayfinding, streetscape beautification, and ensuring the “Downtown Experience” is walkable, accessible, and inviting for visitors.

Current Strategic Targets

1. Adaptive Reuse & Historic Preservation
Waterville’s downtown is defined by its architectural legacy, including landmarks like the Columbian House and the Third Street commercial block. We are actively targeting the adaptive reuse of underutilized historic structures, utilizing Façade Improvement Grants and seeking Certified Local Government (CLG) status to unlock additional state and federal tax credits for rehabilitation projects.

• Focus: Boutique Hotel, Bed & Breakfast, Specialty Retail

2. Riverfront Activation
Situated on the banks of the Maumee River, our downtown offers unique potential for water-based recreation and scenic dining. Strategic targets include the development of new pedestrian connections at Roche de Boeuf, enhanced viewing areas at Waterworks Park, and the integration of commercial properties that embrace the river view rather than turn their back to it.

• Focus: Riverfront Dining, Recreation Outfitters, Mixed-Use

3. Experience-Based Business Recruitment
To increase foot traffic and extend visitor stay times, the WCIC is shifting the downtown mix from pure service/office uses to an “18-hour” economy. We are actively recruiting businesses that create vibrancy—restaurants, cafes, arts venues, and entertainment options—to complement our successful annual festivals and events.

• Focus: Dining, Entertainment, Nightlife