Built ca. 1890 as the retirement home of Robert T. Hempstone, a Baltimore businessman, Waverly displays the personal prosperity of its original owner. At a time when the economy of Loudoun County still suffered from the devastating effects of the Civil War, large dwellings such as Waverly were built primarily by individuals who had acquired their wealth elsewhere. A finely-appointed example of a late Victorian residence incorporating features of both the Queen Anne and Colonial Revival styles, the house was built by the Leesburg firm of John Norris and Sons, probably using a scheme published in one of the many architectural design catalogues of the period. Waverly stood in shabby condition for many years but was restored in the 1980s and again in 1995, after a major fire, as the centerpiece of an office development known as Waverly Park Corporate Center.  Waverly contributes to the Leesburg Historic District.