Efforts to renovate a deteriorating building on the city’s Town Square have received a boost in the form of federal funds issued through the Small Business Administration.

On Thursday, Alex Weld, chairwoman of the Wellsburg Urban Redevelopment Authority, announced the volunteer city committee has been awarded $750,000 to renovate a vacant, three-story structure at 701 Charles St.

Recently crews with Modex Contracting of Wellsburg gutted the building’s interior and removed its collapsing roof under the board’s direction.

Weld said the crews also stabilized the structure to allow for future renovations.

Built in 1834, it is one of three buildings at the corner of the square and Charles Street that the board purchased for $100 in hopes of refurbishing them for future development. While some thought had been given to demolishing them, members of the board and other city officials were aware their removal would leave a large gap along the square and Charles Street.

Weld said, “Revitalizing our historic Town Square has been a long-standing goal of the city and the URA, and with the funding, we can now take significant steps towards making this vision a reality. This project will not only preserve our town’s rick heritage but also create opportunities for new businesses.”

She said the goal is to restore the building so it may be occupied by a commercial tenant on the first floor and apartments on the second and third floors.

Weld expressed thanks to U.S. Sens. Shelley Moore Capito, R-W.Va., and Joe Manchin, D-W.Va., for allocating the funds.

Representatives of both were on hand to convey the federal legislators’ hopes the funds will help to spark economic development in the city’s downtown business district.

Weld noted the project was begun under former URA chairman Frank Johnson and included a study, funded by a $70,000 grant from Appalachian Community Capital, a nonprofit organization, that proposed future uses for the three buildings.

They included a restaurant or coffee shop, retail businesses or office space and apartments for the upper levels.

Weld acknowledged additional funds will be needed to pursue the renovations and one way they hope to raise money is through a series of community block parties on the square and Charles Street.

Thursday’s announcement came during the first such event, which included live music, food and craft vendors and a beer tent sponsored by several businesses and individuals.

Weld said others are slated for 6 p.m. to 9 p.m. Aug. 1 and Sept. 5.