Efforts to build more than 100 new houses in Newport underway

A number of civic organizations and a developer will collaborate to build more than 100 houses in Newport. Thousands of commuters come to the city each day to work and housing is lagging, Newport Economic Development Commission CEO Jon Chadwell told Talk Business & Politics.

Costs for the project are still being tabulated and the hope is that infrastructure work for the venture will begin in early 2025.

The project will involve a number of partners including the Newport School District, the Newport Economic Development Commission, the city of Newport and the P3 Group.

“First as city inspector and now as mayor, I have long known that housing is one of our city’s largest needs,” said Mayor Derrick Ratliffe. “This project will address this urgent issue and provide homes for our citizens and for newcomers.”

The goal of the project is to bring 112 new single-family homes to the community. The project site is located just north of Newport Elementary School on Commerce Boulevard.

The project will be developed in three phases, with the Newport School District selling the land for each phase as 70% to 80% of the houses in the previous phase come under contract. According to Newport School District Superintendent Jon Bradley, “This project just makes sense for the Newport School District. The district will make money on the sale of the land and then will receive money each year from the increased property taxes and the increase in students by families moving to town. It is a winning project for the school district.”

The P3 Group is a developer that specializes in public-private cooperative projects throughout the South and Midwest.

As a developer they will construct the infrastructure and prepare the land to sell to a contractor who will then build homes to sell. Senior Vice President and COO Grandon Gray said, “The P3 Group is honored to partner with the Newport School District, the city of Newport, and Newport Economic Development Commission leadership to make this project a reality. Homeownership is an integral part of the American dream as it instills a sense of pride, dignity and self-worth. Our role as developer is to gather input from key stakeholders and partner with local contractors to build quality, affordable single-family homes. The future of Newport and Jackson is bright.”

Jackson County experiences an influx of approximately 3,000 inbound commuters per day that work in the community. The current limited housing stock prevents these families from having the option to relocate to Newport.

“This new development will provide choices for people who work in Newport. They can move their family closer to their work, which allows them to spend more time at home,” Chadwell said. “The location near the elementary school is perfect for families with children. This was truly a collaborative project and brought out the best in Newport’s leadership.”

The next step will be a focus group meeting with local realtors and lenders to start a discussion of the specifics of the housing development. The Newport School District and the P3 Group will take the information from the focus group and develop an overall plan for the subdivision. Throughout the project, the Newport School Board will exercise local oversight and control of the project to ensure that the development is done in a manner that is most profitable for the school and the community.

“Our local leadership group stepped up and demonstrated to the P3 Group that we are serious about growth and development,” said Judge Jeff Phillips, Jackson County Judge. “We are very excited to have them as a partner in growing Jackson County.”