Next phase of Newport development announced
NEWPORT, Ky. (FOX19) - Additions to Ovation, a multi-use complex in Newport, have been announced by the developer and are expected to begin by the end of the year.
Ovation is a 25-acre mixed-use development at Newport on the Ohio, according to Corporex, that is expected to have 900 residential units, restaurants, retail, hotels, and offices.
The developer says the addition will include a 125-room Homewood Suites by Hilton as well as an office building that will offer approximately 100,000 square feet of Class A office space and a plaza level retail space.
“Some people might question our timing of this announcement,” Tom Banta, Managing Director of Corporex, said. "But Corporex has historically done very well commencing work on major projects during a recession.”
Corporex says the expected combined cost of the development will be $45 million.
Phase one of construction began last fall and is expected to be complete by the end of the year and includes a 550-car parking garage and music venue that offers space for 2,700 people inside and 7,000 people out.
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