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Newport Grand


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http://www.beloblog.com/ProJo_Blogs/newsbl..._procaccia.html

BIG NEWS, KIDDOS. PROC GROUP - according to the ProJo - is buying Newport Grand. They will be holding a press conference tomorrow morning.

So, what does this mean? Continued push for expanded gambling? New hotels? Lifestyle center?

There had been chatter a year (?) ago about O'Neill buying the property. Proc seems like a better fit, but we'll see...

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http://www.turnto10.com/northeast/jar/news...04-03-0022.html

Channel 10 has a video up, complete with a couple renderings. Apparantly Proccacianti has their eyes on the land under the bridge ramps, in addition to the Newport Grand property. It also looks like there's some sort of mass transit involved, as one of the renderings shows people boarding a train.

Edit: Here is the Daily News' take on the story, complete with this rendering on the main page:

nptgrandxw9.jpg

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there a really cool plan to create Commuter rail or shuttle rail from the Sakonnet River bridge down to the gateway center along the existing trackage that the Newport dinner train uses...

I read everything I could find about it on the RIDOT web page - it sounds like a really great idea/plan. The cost to fix up the line isn't too, too high (although there will undoubtedly be RIer's writing editorials about how it would be waste, etc.). There is a chance that the Newport dinner train folks could actually run the service as part of a public-private transportation venture.

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PBN: "TPG unveils $1.4B 'O2' development plan that begins with buying Newport Grand "

http://www.pbn.com/stories/24752.htm

PROJO: "Grand plan for Newport"

http://www.projo.com/news/content/NEWPORT_...1H.36957db.html

map:

http://www.projo.com/news/2007/popup_procaccianti.html

slide show (I love the train idea!!):

http://www.projo.com/slideshow/2007/0404_newportgrand/

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the project isn't financed yet, so they'll use whatever excuses they can...

I think the only part of the plan that is definate at this point is the Grand purchase and the 20 million renovation to add more slots (per State contract) and support space. I think the hotel part (Ritz or otherwise) would be next.

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I find it hard to comment on this proposal. For one thing, the scope here is immense. But for another, I am not one of those born-'n'-raised Newporters, so I can't honestly claim to see these plans through those eyes.
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