''Over the next year, you're going to see quite a lot of action,'' the group's treasurer, Sheryl Frew, said yesterday.
Over the coming months, the group plans to update engineering reports, reconsider the conservation report, look at original plans for the restoration and ask the people of Waimate how they would like to see the building used.
Built between 1905 and 1907 by Makikihi land owner and businessman William Quinn, the arcade was bought for $120,000 by Pro-Ject Waimate in 2007.
The building, which has 296,970 bricks from Quinn's own brickworks, was originally a shopping arcade with two-storey blocks at each end, ornate verandas and half-moon glass windows.
It became a picture theatre and billiards room, but then reverted to storage, with two flats.
Pro-Ject Waimate, which was a business and economic development group, had plans to restore and redevelop the building back to a shopping precinct, but interest waned.
Then, in September last year, Pro-Ject Waimate was resurrected with a sole focus on restoring and developing the building.
Miss Frew said yesterday when contacted a committee of eight had been set up and had taken another look at plans for the building.
While originally it was planned to use the building for retail, things had moved away from that. At the same time, changes in regulations meant the engineering report would need updating.
Within the next three months, the group also planned to consult the community about what should happen with the building and seek ideas about how it could be used.
The group has its annual meeting on Wednesday, June 18, which will be open to the public.