.A triplex accepted for investment final month due to the Common council at the corner of Balboa Blvd and Coronado Road may end up being a public vehicle parking lot.The investment of the residential property at 301 E. Balboa Blvd. was part of the consent schedule on the Aug. 27 meeting of the City Council, and also acquired consensual confirmation. It was marketed through Linda and also Bobby Hanada for $2.6 million, according to urban area staff.The great deal it may be actually converted into would offer the eastern edge of the Balboa Peninsula, where vehicle parking is specifically hard to locate. People locations for individuals because region are mostly found at the boat dock, one great deal on Palm Road and also restricted road areas." This auto parking, specifically in the course of height summer season need, frequently does not fulfill the car park requirements of the region," Newport Beach Real Property Supervisor Lauren Wooding Whitlinger filled in a report.The residential or commercial property sold due to the Hanada family members is at the very same junction as a building owned by AT&T that Newport Beach front authorities would likewise like to develop into a parking area. The area has actually resided in talks with the telecoms company and is actually waiting for it to transfer or downsize so a section of the home at 311 E. Balboa may also be purchased.It's confusing from personnel documents exactly how quickly teams could break ground on a brand-new car park. For the time being, authorities were actually thinking about utilizing the existing building as a momentary fire station while development of a brand new facility for the fire department resided in progress.Tenants presently stay in 2 of the systems at the recently marketed triplex. They are going to be entitled for moving support "certainly not foreseed to go over $90,000 per unit," according to area team.