The Levee's newest addition: An observation wheel?

LAS VEGAS – A giant observation wheel could sprout as soon as 2016 on Northern Kentucky's riverfront as part of the new development push at Newport on the Levee.

Levee officials and its owner, the Price Group, are making that marketing push at a national trade show for retailers, real estate owners and brokers this week in Las Vegas.

The Price Group is seeking partners to expand the Levee's reach and grab a bigger share of Cincinnati's tourism spending by adding components to the riverfront project.

Price Group, which is based outside San Diego, has a letter of intent with St. Louis-based Koch Development to build a 180-foot-high SkyWheel near the riverfront, according to marketing materials The Enquirer obtained.

But while that project is far from a done deal, it could reflect positively on the future of a mixed-use development that already attracts 3.5 million visitors a year.

A final development agreement and municipal approvals would have to come before details about ride costs and operating times would be available. Still, the wheel may be Newport's second tallest structure, and the attraction would be a striking new presence on the waterfront. The observation wheel would feature enclosed cabs and move very slowly to give riders the chance to take in panoramic views.

"We are in discussions with a developer to bring a major attraction to Newport on the Levee," said Harold Dull, the Levee's general manager.

Levee officials are regular attendees at the International Council of Shopping Centers' RECon conference. But this year, the Levee is bolstered by a major $80 million construction project happening on what's now a parking lot east of the mixed-use destination along Third Street.

The project will add 239 upscale apartments called Aqua on the Levee, a 144-room Aloft hotel, an 800-space parking garage, and 8,200 square feet of retail space.

Construction on the parking garage podium – which would allow hotel and apartments to be built atop the garage – could be complete in late summer, Dull said.

Apartments are expected to be completed in fall 2016, and the hotel could be completed in 2016 after the apartments. Louisville-based Musselman Hotels is developing the Starwood lifestyle brand Aloft hotel. Downtown Cincinnati-based Capital Investment Group is developing the apartments.

Dull called the new developments "transformational" for the Levee.



"We're exploring different opportunities to ensure Newport on the Levee maintains its dominant position in the marketplace," he said.

The nearly 14-year-old Levee has office tenants, more than a dozen restaurants and bars, entertainment attractions, and about a dozen retail stores.

Dull also said the Levee is interested in building a new outdoor plaza that would connect to Third Street and create a new east entrance to the Gallery Building, which features tenants such as the AMC Newport 20 Theatres, Axis Alley, Bar Louie, Gameworks and Kelley's Kloset. Creating the new entryway facing the Purple People Bridge would improve the flow of traffic through the property, he said.

The proposed plaza space, which now has a placeholder name of Saratoga Plaza, could feature programming similar to what the Levee has near the Aquarium.



Longer-range goals for the Levee include repurposing the vacant Imax theater property, developing an 18,800-square-foot "pad" on Third Street, analyzing the potential of waterfront development and developing a contingency plan if Barnes & Noble were to exit its nearly 27,000-square-foot space.

The Imax theater closed in 2003 after two years of operation. It was behind in payments for its $2 million projector. The theater's owner, 3D on the Ohio LLC, went through bankruptcy, and the theater property has been vacant since.

Columbus-based Steiner and Associates developed the Levee and opened it in October 2001. The development was built around the Newport Aquarium, which opened in 1999. The Price Group has been the Levee's sole owner since 2005.

How tall will the Ferris wheel be?

With a height of 180 feet, the planned observation wheel at Newport on the Levee would be taller than the General Electric Co.'s global operations center being built at The Banks in Downtown Cincinnati. It would be slightly shorter than the stately Mercantile Library building on Downtown's Walnut Street between Fourth and Fifth.

In Newport, only the 21-story, 236-foot SouthShore Tower I, a condominium project on Newport's border with Bellevue, would eclipse the wheel in Campbell County's biggest city, according to Emporis, a company that keeps data on buildings and skyscrapers worldwide. The wheel would be 65 feet taller than the historic Campbell County Courthouse, only a few blocks away.

Covington has buildings that are much taller than the planned wheel. The RiverCity I and II towers are 308 and 292 feet tall respectively, while the neighboring Ascent at Roebling's Bridge is 293 feet. The wheel would be roughly the same height as the Cincinnati Marriott Rivercenter in Covington and the city's iconic Mother of God Catholic Church, according to the Emporis data.

Enquirer Reporter Bowdeya Tweh is in Las Vegas this week covering the ICSC RECon conference. Follow updates on his travels on Twitter @BowdeyaTweh.