Soon after Waverly was originally surveyed in 1853, settlers had timber cleared, a dam put in place, and buildings constructed. In 1856, citizens built a foot bridge across the Cedar River, along with a ferry to accommodate teams of horses. During low water, the river could be forded on a Native American trail that crossed the riverbed a block south of the present bridge. In 1857, a bridge for heavier traffic was built, one of the first of its kind over the Cedar River, but it was swept away by the freshet of 1858. A second bridge was built across the Cedar River in 1860 and was swept away again by ice and high water in 1871. The citizens then built a third bridge, which lasted until 1899, when it was replaced by a more substantial structure. In the late 1920s, an arch was added to the bridge in celebration of the Fall Corn Carnival, and throughout the 1930s the structure was often decorated for the holidays. The arch promoted Waverly as the "Dairy Spot of Iowa" and was taken down before construction of the present bridge began in 1949.