It amazes me all the development that is being done in Newport. Ever since they revamped the area it has been absolutly booming. Now Cincinnati is (hopefully) going to be breaking ground on the banks project this year. I hope that they are able to at least match the success of Newport.
More high-rise condos and office spaces are planned for Newport's riverfront.
This time the land is the site of the Riverchase apartment complex across Columbia Street from Newport on the Levee and adjacent to the $1 billion residential/retail/office complex known as Ovation.
The Newport City Commission heard plans Monday from Cincinnati developer Ray Brown for building a $228 million, 320-condo development in two high-rise towers and a third office tower on 5 acres.
The commission held a first reading Monday to change the zoning for the Riverchase apartment property to allow for the development.
Brown has owned the apartment complex since 2003 with his wife, Debbie, his daughter and his son-in-law. He said only in the past year had he considered developing it into high-rises.
The city of Newport had approached Brown about the possibility of running a rerouted Ky. 8 through the property, Brown said. Other developers had also expressed interest in the property. That got him thinking about the potential of the property, which houses 200 market-rate apartments.
"They say it is the best location on the river," Brown said.
Plans call for two residential towers, 19 and 23 stories tall, counting the garage levels underneath the residential floors. The office tower would have 10 floors of office space and six garage floors. There also would be 27,100 square feet of retail space and 211,000 square feet of office space.
The size and price of the condos will depend on the market, Brown said. They will have an unobstructed view of downtown Cincinnati, Brown said.
"There is nothing in front of it," Brown said. "Just stadiums."
The construction will be similar to Newport on the Levee in that it will be built to the level of the floodwall and have a public plaza with views of the river, said Greg Tulley, Newport's planning and zoning coordinator. There also will be potential for restaurants and outdoor dining, he said.
"There will be views from the units and public spaces," Tulley said. "There will be a beautiful view of the river."
Construction could begin within the year, Brown said.
It will likely take a year to move out the tenants in the Riverchase apartment complex, Brown said.
Construction could take up to eight years, he said. The first phase - a residential tower with 154 units - would likely take three years.
The buildings will be designed by Louisville firm Tucker Booker Donhoff + Partners.
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