.A triplex approved for investment final month by the Common council at the edge of Balboa Boulevard as well as Coronado Road may end up being a public parking lot.The investment of the residential or commercial property at 301 E. Balboa Blvd. was part of the authorization calendar on the Aug. 27 meeting of the City board, as well as obtained unanimous confirmation. It was marketed through Linda and also Bobby Hanada for $2.6 million, depending on to area staff.The whole lot it may be exchanged would serve the east edge of the Balboa Cape, where parking is actually specifically hard to locate. Community locations for people in that area are actually mostly located at the pier, one lot on Palm Street as well as restricted road areas." This parking, specifically during the course of peak summer requirement, typically carries out not comply with the parking needs of the place," Newport Beach Front Real Property Manager Lauren Wooding Whitlinger filled in a report.The residential property offered due to the Hanada household goes to the very same junction as a building possessed through AT&T that Newport Beach officials would also just like to develop into a car park. The metropolitan area has actually resided in speaks with the telecoms company and is actually waiting for it to move or even scale down so a part of the residential property at 311 E. Balboa can easily additionally be purchased.It's unclear coming from staff files just how quickly crews could break ground on a brand-new parking area. Meanwhile, officials were actually thinking about making use of the existing building as a short-term station house while construction of a brand new facility for the fire department remained in progress.Tenants presently live in two of the systems at the just recently sold triplex. They will be eligible for relocation help "certainly not expected to go over $90,000 each," depending on to area personnel.