In the lobby of the former Newport Grand Casino this morning, Carpionato Group announced their plans to demolish the former Newport Grand Casino and create Newport North End a $100-million mixed use development to serve as the amenity anchor for the Newport Resilience Innovation District on the former casino site.
When completed, Carpionato Group says the project will realize approximately $1.5 million in tax revenue to the city of Newport.
Newport North End will be the largest private development project in Newport to date, according to Carpionato Group. They are proposing to build two six-story hotel (182,604 sq. ft.) featuring a total of 260 rooms targeted to business travelers; two six-story apartment buildings (179,876 sq. ft) targeting younger workers and those seeing to downsize; as well as 164,548 square feet of innovative research and office space, as well as medical, retail and restaurant space.
In May of 2018, What’sUpNewp was the first to report that Newport Grand property would become upscale mix of hotels, retail and office space.
It is anticipated the project will create approximately 250 construction jobs, and approximately 500 full-time permanent jobs upon completion.
To build Newport North End, Carpionato Group willl be submitting a zoning amendement to the Newport City Council to create a mixed use planned district. The proposed mixed use district will be restricted to the present Commercial/Industrial district in the north end of Newport and will only apply to properties that are comprised of at least 20-acres.
Carpionato Group will host community meetings to gather input on the plan beginning this Fall. The project will also need approvals from RIDOT and RIDEM. The demolition of the former casino building will begin upon completion of the permitting process, Carpionato Group hopes demolition of the building will take place in early 2020.