After years-long pause, development proposed at World Peace Bell site lands millions in bonds

–

The bonds will go toward the construction of a 405-spot parking garage after commissioners unanimously approved the issuance at a Jan. 22 meeting. The bonds signal the reignition of World Peace Hospitality’s plans to build two hotels, office, retail and parking at the site, all while maintaining the World Peace Bell’s presence –the 66,000-pound object is one of the largest free-swinging bells in the world – near the intersection of Fourth and York streets.

The principal amount of the bond is $16.5 million, though it may be increased by $1.65 million or decreased by any amount, according to the city ordinance.

World Peace Hospitality in 2019 unveiled its plans for the more than 2.1-acre World Peace Bell site, at the time landing development approval from the Newport City Commission.

The site now includes a dual-brand Home2Suites and Tru by Hilton hotel, with 207 total rooms. It would span seven stories, with more than 2,000 square feet of retail included.

The office complex would also include ground floor retail. According to Assistant City Manager John Hayden, there could be condos on top of the office.

“This is an exciting project,” Hayden said during the meeting.

Plans include an outdoor plaza with a portable stage around the bell. Newport’s World Peace Bell is one of more than 20 Peace Bells in the world, cast in Nantes, France, in 1998. It was dedicated in Newport Dec. 31, 1999.

https://www.bizjournals.com/cincinnati/news/2024/01/25/world-peace-bell-site-lands-millions-bonds-garage.html

#cincinnati #newport #ky #nky #renovation #worldpeacebell #bonds #hospitality #retail #home2suites #tru #hiltonhotel #job #employment #community #dedication