Newport on the Levee’s Margaritaville Resort lands first approval for $33 million in incentives

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The Kentucky Tourism Development Finance Authority (KTDFA) Sept. 20 gave preliminary approval to Newport Hotel Associates for nearly $33.4 million in incentives to build the region’s first Margaritaville Resort at the Levee.

“We just celebrated our best year on record for Kentucky tourism in 2022 and with exciting projects like Margaritaville being announced, we know this success will only continue,” Beshear said in the release. “This resort will help drive visitors to the Campbell County area, boosting the local economy and creating 282 new jobs for Kentuckians. We are grateful to these leaders for choosing Kentucky and our workforce.”

The resort will be built on an undeveloped parcel along Third Street next to the former Imax theater. It could be up to 15 stories tall and will include 264 rooms, a JWB Grill, License to Chill Bar and a 12th-floor pool with an adjacent Five O’Clock Somewhere Bar and Grill overlooking downtown Cincinnati.

The resort will also include retail space and more than 10,000 square feet of meeting and event space, which includes 2,000 square feet in the rooftop.

Construction is estimated to be complete by fall of 2026.

The resort now needs final approval from the KTDFA.

https://www.bizjournals.com/cincinnati/news/2023/09/20/newport-on-levee-margaritaville-incentive-package.html

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