$200M SouthShore tops off first residential tower

Capital Investment Group, developers of the SouthShore condominium complex in Newport, held a topping off ceremony for the first tower on Wednesday.

The mayors of Newport, Covington and Cincinnati were on hand as future residents signed a spire that will be placed atop the 21-story building.

Of the 69 units in the first tower, 40 have been sold, with prices ranging from between $385,000 and $3 million.

In addition to a second residential tower, SouthShore will feature a 1,700-square-foot private gym and clubhouse, and the developers are awaiting approval from the Army Corps of Engineers for a 100-slip marina.

The structure is expected to be ready for residents by late this year.

Although some adjacent office and residential development is likely in the future, City of Newport Main Street manager Robert Yoder thinks that the condos will be good for the existing businesses along Monmouth Street and in Newport on the Levee.

“In talking to some the SouthShore residents they are excited to be in an area with shops, restaurants and services so close to where they live,” Yoder says.  “I think many businesses in Newport’s Downtown will see some new customers, and that’s always good for business.”

The second tower will start construction in 2009.

“What’s amazing is SouthShore is using a piece of property that’s been a parking lot in front of the floodwall for decades and now it is a new residential neighborhood in the City of Newport,” Yoder says.

Writer: Kevin LeMaster
Source: Robert Yoder, Main Street manager, City of Newport