The transformation of downtown Newport is underway.
Demolition work began this week on the redevelopment of the World Peace Bell site and a parking lot into a development featuring two hotels, office space and a parking garage.
“It is tremendous to watch the beginning steps of a project that will create renewed vibrancy into the city’s urban core,” said Newport Mayor Tom Guidugli Jr. “This has been a long time coming, but I’m convinced it will be worth the wait.”
Hotel operator Shaun Pan – the owner and operator of a riverfront Hampton Inn & Suites is leading the redevelopment of the block bordered by Monmouth, York, Fourth and Fifth streets.
Pan will develop two other Hilton brands – TRU and Home 2 Suites – on the site along with the office building and parking garage.
Crews began demolishing the World Peace Bell office building on Monday, June 10. The building housed Southbank Partners, the regional economic and community development organization that has relocated to an office at Newport on the Levee.
Within the next two weeks, the World Peace Bell will be temporarily relocated to property owned by Maxim Crane Works in Wilder. The bell rang for the first time on Jan. 1, 2000, to celebrate the millennium
Plans call for The World Peace Bell to eventually be relocated to another location within the city.
Newport has attempted to attract development to the site over the past several years. In the late 1990s, developers proposed building the Millennium Freedom Tower, a 1,000-foot-tower that would have included a restaurant, bar, carillon, gardens and event space. However, for various reasons, the structure was not developed.
Newport City Manager Tom Fromme said the project will breathe new life into a prime piece of property that will finally realize its untapped opportunities.
“The city has always recognized the potential of the site,” Fromme said. “Meeting that potential had presented some challenges – oftentimes due to economic conditions or other factors out of our control – but now we have an outstanding development to fill a void in our downtown.”