Est. 1921 · Welch, West Virginia
National Register of Historic Places
The First National Bank Building

A Monument
Being Restored
to Purpose

Six stories of classical revival architecture — anchoring the revival of McDowell County

1921
Year Built
35,000
Square Feet
6
Floors
40%
Combined Tax Credits
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Proposed retail restoration concept 1 Bank Street current state 2023
Current State · 2023
Proposed Adaptation

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1 Bank Street · Welch, West Virginia · McDowell County
The Property

A Classical Revival Landmark, Built to Last a Century

Constructed in 1921 by Stowe/Greene architects, the First National Bank Building stands as the anchor institution of the Welch Commercial Historic District — a contributing structure on the National Register of Historic Places.

Its beige brick façade, colonnaded entry portico, triangular pediment, and original stone lettering have presided over McDowell County for over a century. Inside, the original marble lobby, marble staircase with iron balustrade, decorative elevator door, and Diebold Safe & Lock vault door remain intact.

  • 35,000 sq ft across six floors — 5,000 sq ft ground floor Retail space
  • Contributing Building #30, Welch Commercial Historic District
  • Original marble lobby and marble staircase preserved
  • Original Diebold bank vault door in situ
  • Adjacent to Hatfield-McCoy ATV Trail system
  • Walking distance to McDowell County Courthouse
Leasing Opportunities

Space Available for
Visionary Operators

We are seeking tenants who share a commitment to community and long-term presence in Welch. The building's rehabilitation will be phased to accommodate anchor tenants from the outset.

🏛
Ground Floor Retail & Restaurant

5,000 sq ft of prime ground floor space in the heart of downtown Welch. Ideal for a restaurant, café, specialty retail, or financial services. High visibility on Bank Street with historic character that cannot be replicated.

🏢
Floors 2–3: Professional Office

Targeting federal agency tenants, legal, healthcare, and professional services firms. McDowell County's distressed designation makes federal office placement here a natural fit for mission-driven agencies.

🏨
Floors 4–6: To Be Determined

Upper floors are positioned for boutique hotel, workforce housing, or additional office depending on market demand. The Hatfield-McCoy ATV Trail system drives significant hospitality demand to the region.

Tax Credit Investment

A 40% Combined Historic Tax Credit Opportunity

The First National Bank Building qualifies for both the Federal Historic Tax Credit (20%) and the West Virginia State Historic Tax Credit (20%), creating a combined 40% credit against Qualified Rehabilitation Expenditures.

We are actively seeking a qualified tax credit investor to partner in the rehabilitation of this landmark property. The structure is designed for a standard 5-year compliance period investor partnership.

Request Investment Summary
$1.5M
Estimated QREs
$600K
Combined Credits
20%
Federal HTC
20%
WV State HTC
Why Welch

The Mission Behind the Mortar

McDowell County is among the most economically distressed counties in America — and one of the highest-priority Appalachian Regional Commission target areas. This building was purchased intentionally, to bring commerce back to a forgotten community.

Welch hosts the oldest running Veterans Day parade in the United States. This project is not just economic development — it is an act of respect.

The Hatfield-McCoy ATV Trail system, adjacent federal lands, and proximity to the New River Gorge region create a genuine tourism and hospitality economy waiting to be served.

The vision: 50–100 permanent jobs, an anchor beacon for Welch's commercial district, and a replicable model for Appalachian revival through historic preservation.

Get In Touch

Begin the
Conversation

Whether you are a prospective tenant, tax credit investor, community partner, or press — we welcome your inquiry. This project moves forward with the right partners.

Address 1 Bank Street, Welch, WV 24801
Email info@1bsw.com
Phone (980) 390-3677
Parent Co. Black Harvest Capital LLC