.A triplex approved for investment final month due to the Common council at the section of Balboa Blvd and also Coronado Road might become a public parking lot.The purchase of the property at 301 E. Balboa Blvd. became part of the authorization calendar on the Aug. 27 appointment of the City board, and also received consensual approval. It was offered by Linda as well as Bobby Hanada for $2.6 million, according to urban area staff.The lot it might be converted into will serve the eastern edge of the Balboa Cape, where car park is actually specifically challenging to find. Community locations for folks because place are primarily found at the boat dock, one lot on Hand Road and restricted street areas." This auto parking, especially during the course of top summer time demand, typically performs not satisfy the auto parking requirements of the area," Newport Seaside Real Estate Administrator Lauren Wooding Whitlinger recorded a report.The residential property sold by the Hanada family goes to the exact same intersection as a structure had by AT&T that Newport Beach front authorities would certainly additionally like to turn into a parking lot. The metropolitan area has resided in talks along with the telecommunications company and also is expecting it to transfer or even scale down thus a portion of the home at 311 E. Balboa may also be purchased.It's not clear coming from personnel files how quickly crews could break ground on a new parking lot. In the meantime, authorities were actually looking at using the existing property as a brief fire station while building and construction of a brand new resource for the fire department remained in progress.Tenants currently stay in two of the units at the lately offered triplex. They will definitely be eligible for moving support "certainly not expected to go beyond $90,000 per unit," depending on to area workers.