Big news on the Newport real estate front! Procaccianti Companies Inc. just dropped a whopping $73.5 million to scoop up the Newport Harbor Hotel & Marina on America’s Cup Avenue. This is the latest power move by the Cranston-based real estate giant, which is on a serious shopping spree.
Back in April 2023, Procaccianti forked over $40 million for the Bellevue Gardens Shopping Center and another $25 million for the Newport Beach Hotel & Suites. These buys are setting the stage for some big changes in Newport!
And they’re not stopping there. Procaccianti has just put forward plans to build a brand-new 91-room hotel on the Bellevue Gardens site. If approved, this would be a major addition to Newport’s booming hospitality sector.
All eyes will be on how these developments play out for Newport’s economy and community. The proposed hotel at Bellevue Gardens has certainly sparked some buzz—and plenty of chatter—among locals.
Stay tuned as Procaccianti reshapes Newport’s landscape, one multimillion-dollar deal at a time.
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