Riverside: An Overlooked Suburb on the Cusp of Rezoning

Newport City Council members will decide July 15 whether to rezone the Riverside suburb from light-industrial to mixed-use, a step that would allow apartments and townhouses on blocks now limited to storage and small manufacturing.

Why the Timing Matters

The vote arrives while Newport’s housing inventory sits at 1.8 months, the lowest level recorded by the Newport Multiple Listing Service since March 2023. Local builders have already optioned three parcels along the riverfront in anticipation of the change, and the city’s planning staff report 47 formal inquiries from developers in the past eight weeks.

Riverside sits between the old rail spur that runs parallel to Harbor Street and the eastern edge of Newport Waterfront Park. Residents use the Newport Community Center on Maple Avenue for meetings and the nearby Dockside Farmers Market on Saturdays draws shoppers from across the city. The proposed zoning would permit buildings up to five stories within 300 feet of the riverwalk trail maintained by the Newport Parks Department.

Prices and Sales Data

Current median sale prices in Riverside stand at $287,500 for single-family homes and $189,000 for small commercial buildings, according to the May 2026 Newport Real Estate Board report. That figure is 9 percent higher than the same month in 2025, though still 14 percent below the citywide median of $334,000. The report also shows 22 properties sold in the suburb during the first half of the year, up from 15 in the same period last year.

Buyers considering Riverside should review the draft zoning map posted on the city’s website and attend the July 15 council session at Newport City Hall. Local title companies recommend securing pre-approval letters now, as agents expect a short window of price stability before any approved rezoning takes effect in September.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.