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Newport, KY: Newport on the Levee: Development and News

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The planned $100 million investment

I wonder what kind of return they think they are going to get on a $100 million investment?  Does this include new space?  I don't see the numbers working out on an investment like that in the existing space for the returns a commercial real estate owner/investor would demand.

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For reference Aqua at the Levee cost $80 Million. I have heard discussion that includes demolishing Brio's building and relocating them to the a new storefront, extending Monmouth straight into the parking garage and re-building the entrance to be much more forward facing towards Newport instead of facing it's back to the city (think the movie theater/mall in Centro Ybor in Tampa). This would also include re-developing the former Imax space and the empty plot adjacent to it with apartments, office or even more hotel.

 

All this along with all the necessary interior renovations, and I could easily see it adding up to $100 million. I have seen nothing on paper yet, but there has been lots of discussion in and with the community. 

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2 hours ago, ucgrady said:

For reference Aqua at the Levee cost $80 Million. I have heard discussion that includes demolishing Brio's building and relocating them to the a new storefront, extending Monmouth straight into the parking garage and re-building the entrance to be much more forward facing towards Newport instead of facing it's back to the city (think the movie theater/mall in Centro Ybor in Tampa). This would also include re-developing the former Imax space and the empty plot adjacent to it with apartments, office or even more hotel.

 

All this along with all the necessary interior renovations, and I could easily see it adding up to $100 million. I have seen nothing on paper yet, but there has been lots of discussion in and with the community. 

I attended a ULI presentation a month or two ago and most of this was presented by North American. At the time they did not know what they were going to do with the IMAX site but that may have changed. Also, they plan on adding office on top of some of the single-story sections. Overall, it's an expensive but much-needed change to the complex. 


“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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Just a heads up Apperantly Q102 leaked news that Barnes and Noble on the Levee will be closing permenantly. 

 

Such a shame I loved lingering in that book store.

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3 minutes ago, troeros said:

Also, a Reddit rumor but Brio is also set to close. 

 

Newport on the Levee has officially collapsed. 

 

Not certain if you are being serious or not but they are doing a massive $100 million renovation so they are probably closing most the stores to re-do everything, I bet it will be better than ever when they are finished.

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2 minutes ago, IAGuy39 said:

 

Not certain if you are being serious or not but they are doing a massive $100 million renovation so they are probably closing most the stores to re-do everything, I bet it will be better than ever when they are finished.

 

I'm sure...but with the latest plans released I wish more info was given on what they plan to do with the retail components/entertainment/resturaunt components..still sort of lost on what the phases are and what the overall goal of the new Levee is setting out to achieve to Garner the audience it has lost. 

 

 

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Brio is closing because they are demolishing that building. They are going to create a new entrance to Newport on the Levee with a big traffic circle, and there will not be room for a building in the middle of the traffic circle like there is now with the Brio building.

 

Barnes & Noble is closing because physical bookstores, in general, are not doing well anymore. There are only 3 other Barnes & Noble locations remaining in all of Greater Cincinnati, and 2 Joseph-Beth locations. Borders (which had several stores in Greater Cincinnati) went completely out of business several years ago.

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So what is their overall plan? Are they going to build it to be more mixed use? Or is it still just going to be an entertainment destination? 

 

They better have some solid plans if theyre going to drop $100 million on these renovations 

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It's not uncommon for new ownership to let leases expire and clear out older tenants to realize their redevelopment plans. For NOTL, that means losing Barnes, Brio, Mitchell's etc. I would not be surprised if more shops close. That's fine. They are going to redo most of the development, only keeping the AMC, Gameworks and maybe a few others.


“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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The Business Courier article made it sound like the primary focus would remain on entertainment with the movie theater and the aquarium being two big destinations, and that they have "several signed letters of intent from new-to-market food and beverage tenants." They also plan on having more events and other programming to draw in more Newport residents. I think they should consider converting the Barnes & Noble building (at least the upper floor) to office space. The revamped Levee could be very successful, especially if they are able to draw in some unique restaurant tenants. Also keep in mind that there is a large new apartment complex being built in Newport one block away from the Levee. There was also an announcement recently about a new apartment complex on the Cincinnati side of the Purple People Bridge, and the Levee will be building a new entrance from the bridge. So it will be a short walk across the river for those people to get to the movie theater and restaurants at the Levee.

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Newport on the Levee making room for new restaurants, office space

 

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The upcoming closure of Barnes & Noble Booksellers at Newport on the Levee will make room for new restaurants at office space at the mixed-use development.

 

More below:

https://www.bizjournals.com/cincinnati/news/2019/07/23/newport-on-the-levee-making-room-for-new.html


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Newport's giant observation wheel is moving forward

 

A massive observation wheel planned for Newport on the Levee has cleared the last hurdle holding up its construction.

 

The U.S. Army Corps. of Engineers on July 22 informed the city of Newport that it had approved the permit for the construction of a 230-foot-tall SkyWheel at the Levee. The St. Louis-based developer of the wheel, Koch Development, previously said the wheel will take a year to construct. A groundbreaking date has not yet been set.

...

It's something Newport Mayor Jerry Peluso alluded to in a news release.

 

"Comparing any other local wheel to Newport's SkyWheel is like comparing Mount Adams to Mount Everest," he said.

 

More below:

https://www.bizjournals.com/cincinnati/news/2019/07/23/newports-giant-observation-wheel-is-moving-forward.html

 

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18 minutes ago, edale said:

Just go all in and put ferris wheels all over the place like those Mr. Redleg statues. 

One at Devou Park would be awesome. Just think of the views.

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4 hours ago, BigDipper 80 said:

Let's just go all-in and build this on the Ohio River:

 

image.thumb.png.e77bd4f93509bea92c14607a5d1a3c06.png

 Now we're talking. If you need tourists then give them what they want. Build this before it becomes the replacement for the IRS lot.

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This thread has veered off-topic...unnecessarily.

 

See what I did there? Back on topic please!

 

Thank you.

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“All truly great thoughts are conceived while walking.”
-Friedrich Nietzsche

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Here's when Newport’s $15 million SkyWheel will break ground

 

The developers of a 235-foot-tall SkyWheel have set a groundbreaking this fall for the riverfront attraction in Newport.

 

The SkyWheel, which will be located just north of Newport on the Levee along the Ohio River, is scheduled to break ground in September. Final terms between the city of Newport and SkyWheel Attractions, along with the Newport Aquarium and Newport on the Levee ownership, will bring the privately funded SkyWheel to Newport. The total investment to build the SkyWheel is expected to be about $15 million.

 

Matthew Stack, president of SkyWheel Attractions, said it has been a long process to get to this point, but he has always had an eye toward this moment.

 

“We’ve continued to work toward all approvals and logistics and agreements with multiple partners necessary to start construction,” Stack told me. “That has been a very difficult and long process. But once we start construction, that should be the quickest part of the whole process.”

 

More below:

https://www.bizjournals.com/cincinnati/news/2019/08/16/newport-s-15-million-skywheel-to-break-ground-this.html

 

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Newport on the Levee adds bowling alley with an Italian twist

 

A bowling alley that combines tenpin, bocce and classic Italian cuisine opens this week at Newport on the Levee.

 

Rotolo Bowling Bocce Eatery opens Nov. 8 at 1 Levee Way in Newport. The bowling alley and Italian restaurant is a rebranding of the former Axis Alley.

 

Rotolo brings 16 bowling lanes, a full bocce court, billiards, foosball, two full-service bars and a menu of flatbreads, pastas, pizzas and shareable plates to the Levee. The restaurant seats 68 between its dining room and an outdoor patio, and its bars serve classic cocktails, Italian wines, craft beers and authentic Italian sodas alongside an ice cream float bar.

 

More below:

https://www.bizjournals.com/cincinnati/news/2019/11/07/newport-on-the-levee-adds-bowling-alley-with-an.html

 

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I haven’t been physically down at the levee but have tried to view it from when I’m on I-471, but have they started any sort of construction on the skywheel? From my view points it looks like nothing has been done but was supposed to start in September 2019.

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Other then the movie theater and aquarium they need to demo everything else at the Levee and start over. Whoever designed that layout did a horrible job.  You've got a great view of the skyline from that spot that no one can see.  

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10 minutes ago, Cincy513 said:

Other then the movie theater and aquarium they need to demo everything else at the Levee and start over. Whoever designed that layout did a horrible job.  You've got a great view of the skyline from that spot that no one can see.  

Im not sure a complete demo is needed, but I agree it's a terrible design. I've felt that way since the day it opened.

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Its most valuable asset at this point is the big underground parking garage and the aquarium, which seems to be self-sustaining.  Seems like the best course of action at this point is a bunch of apartments and condos over the parking garage and a smattering of retail.  

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Interesting that it says the client is Anchor properties, they just do retail developments I thought. Do they own this property and are looking to sell, and therefore using these images as marketing material? Can we just move this design East to the Ovation site and do it there instead? 

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29 minutes ago, ucgrady said:

Interesting that it says the client is Anchor properties, they just do retail developments I thought. Do they own this property and are looking to sell, and therefore using these images as marketing material? Can we just move this design East to the Ovation site and do it there instead? 

This design is for sure better than the current ovation site. Would be nice to have a wall of mid rises along the river from I-471 to the ovation site. Then continue through Covington. 

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Pretty sure this is just a concept design, so I wouldn't get too excited. If money were no object, then yeah maybe something like that could be built... but I can't imagine anything of that scale/quality getting built on that site (outside/atop the levy) any time soon. 

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Newport Aquarium set to open one of its largest exhibits yet

 

Newport Aquarium will open an immersive exhibit Friday that will be one of the attraction's largest developments to date.

 

“Shipwreck: Realm of the Eels” will launch March 6 with a “christening” as aquarium executive director Eric Rose breaks a bottle across the wreckage.

 

“'Shipwreck: Realm of the Eels is one of the biggest developments since Newport Aquarium opened in 1999 and represents over a $1 million investment in the guest experience,” Rose said in a release. “Guests will find new animals and an extensively themed environment to explore, including walking into the treasure tank and popping up into a tank surrounded by venomous fish.”

 

More below:

https://www.bizjournals.com/cincinnati/news/2020/03/02/newport-aquarium-set-to-open-one-of-its-largest.html

 

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"You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers

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Get a look at Newport Aquarium's newest exhibit with a shipwreck theme

 

Newport Aquarium launched an immersive exhibit Friday that’s one of the biggest developments for the attraction since it opened in 1999.

 

“Shipwreck: Realm of the Eels” represents more than $1 million investment in the guest experience for the aquarium.

 

Filling the space that previously housed the 20-year-old “Dangerous & Deadly” exhibit, the new attraction features five zones...

 

...at:

https://www.bizjournals.com/cincinnati/news/2020/03/06/get-a-look-at-newport-aquariums-newest-exhibit.html

 

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