Mixed-use development proposed at former Newport casino site
NEWPORT, R.I. (AP) — A developer wants to demolish the former Newport Grand slots parlor and build hotels, apartment buildings, offices and retail space.
The Rhode Island-based Carpionato Group said Tuesday it wants to create “Newport North End,” a $100 million mixed-use development project at the site.
The project would include two six-story hotels, two six-story apartment buildings, offices and medical, retail and restaurant space.
The project needs approvals from the city and state.
The slots parlor closed nearly a year ago, when the Twin River Management Group relocated its gambling operations in the area to the new Tiverton Casino Hotel.
City officials said then they expected to lose roughly $800,000 in annual property taxes and casino revenues.
The Carpionato Group says its project would generate $1.5 million in tax revenue for Newport.