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O’Neill Properties unveils plans for The Newport Club, New England’s largest marina, that will give affluent sailors a world-class marina to dock 400-foot megayachts
PORTSMOUTH, R.I.--(BUSINESS WIRE)--The largest yacht in America—the 453-foot Rising Sun owned by Oracle CEO Larry Ellison—will soon be able to sail and dock in New England waters. Today, O’Neill Properties Group announced its plans for The Newport Club, 44.5 acres of picturesque waterfront property on Aquidneck Island, plus 100 acres out into the cove itself. When complete, The Newport Club will feature nearly 1,500 marina slips with retail shops, restaurants, waterfront residences, and marine-related support facilities.
“Our dream of transforming the entire west side of Aquidneck Island into a luxury yachting and living experience is now a reality,” says Brian O’Neill, Founder and Chairman of O’Neill Properties Group. “Boat buyers seek first-class environments in which to dock their boats and enjoy leisure activities. The Newport Club will provide this for local, national, and international yacht owners.” Since beginning operations on the Island in 2004, O’Neill Properties Group has quickly become the Island’s largest investor announcing projects totaling close to $1 billion that will create over 1,200 new jobs over the next 10 years. During that time, the company has also contributed more than $200,000 to local charities and non-profit groups.
The Newport Club will boast as many as 1,495 slips ranging up to 500 feet, allowing large boat owners to dock in New England. Newport, R.I., just a few miles from Portsmouth, is a prime embarkation point for cruise lines and charter ships sailing from the Atlantic Ocean to the Caribbean Sea. With construction of the Newport Club, more megayacht traffic will be drawn to the region, infusing the local economy with $1 billion in sales, and creating as many as 4,000 jobs in New England’s boat-building industry.
“The development of this property is an enormous economic boon for Aquidneck Island,” says John Gowell, an attorney with Burns & Levinson LLP of Providence, which represented Ted Hood in the sale of the property. “This project has the potential to bring hundreds of customers to businesses in the region, and is a testament to Brian O’Neill’s dedication to the Portsmouth area. He is truly the one person who could complete the dream Ted had for this property. The Hood Marina will become the largest site for international marine activities, with the ability to handle the America’s Cup and other international sailing events.”
The Newport Club will feature resort style residences ranging from $395,000 to $2,000,000. Future plans to build brand-name luxury hotels will create a yachting destination substantially larger than the famed Pier 66 in Fort Lauderdale and Nantucket Harbor combined. The Newport Club site is minutes from The Carnegie Abbey Club, O’Neill Properties’ exclusive country club featuring Scottish links-style championship golf, world-class equestrian facilities, yachting, tennis, fishing, and cultural events.
ABOUT O’NEILL PROPERTIES GROUP
O'Neill Properties is a leading national real estate investment and development company headquartered in King of Prussia, Pa., which is developing a portfolio which it currently values at over $2 billion. The company focuses on development of luxury multifamily residential housing, Class ‘A’ office and retail space in the Northeast through the recycling and renovation of surplus brownfield industrial and military real estate. O’Neill Properties has completed development of over 13 million square feet of office space and 700 apartments. Currently, O’Neill has over 2 million square feet of mixed-use and residential developments under construction and development plans for an additional 4.5 million square feet of office and retail space. When complete, the estimated value of the O’Neill portfolio will exceed $4 billion. Notable projects in the O’Neill portfolio are the Worthington Town Center in Chester County, Pa.; the rejuvenation of Conshohocken, Pa., with the creation of the Millennium Class ‘A’ office buildings and the Riverwalk properties of multifamily residential homes; Corinthian luxury condominiums in Philadelphia, Pa.; and The Carnegie Abbey Club and Residential Tower in Newport, R.I.
Press Contact
Mike Lizun
Senior Vice President
Gregory FCA
27 West Athens Avenue
Ardmore, Pa. 19003
610-642-8253 ext. 113
610-585-7594 (mobile)
Mike@GregoryFCA.com
http://www.GregoryFCA.com
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