LEWES, Del.- The Overfalls Foundation will hold its annual anchor drop New Year's Eve celebration in Lewes. The event begins at 11:30 p.m. and is expected to bring out hundreds of people.

The Overfalls Foundation first held its anchor drop eight years ago. Weather canceled the event the last two years, but the anchor is lit and hanging above the lightship ready to drop Wednesday at midnight. 

Administrator Director Tracy Mulveny says there will be a bonfire and that guests should bring their own food and drinks. The foundation says Tuesday night's high tide will provide for an even higher drop. 

"The ship will be riding high and you'll get a good view of the Overfalls in her newly painted glory and be able to see the anchor coming down really really well," says Mulveny. "Everybody will be over on the starboard side of the ship, which is our closest to the drawbridge."

Mulveny says there is plenty of parking near the lightship. She says water will be poured on the bonfires at 12:30 a.m. Wednesday after the celebration has ended.