.A triplex accepted for acquisition last month due to the City board at the corner of Balboa Boulevard and also Coronado Road might end up being a social auto parking lot.The investment of the home at 301 E. Balboa Blvd. was part of the authorization schedule on the Aug. 27 appointment of the City board, and received consensual authorization. It was actually marketed through Linda as well as Bobby Hanada for $2.6 million, depending on to urban area staff.The whole lot it may be exchanged would certainly serve the eastern edge of the Balboa Headland, where vehicle parking is actually especially difficult to find. Public areas for individuals in that place are actually usually found at the pier, one lot on Palm Road as well as minimal street areas." This parking, particularly throughout optimal summer demand, often does certainly not comply with the car park requirements of the region," Newport Seashore Real Property Manager Lauren Wooding Whitlinger wrote in a report.The building sold by the Hanada family members is at the same junction as a structure had by AT&T that Newport Beach officials would certainly likewise as if to become a parking lot. The metropolitan area has remained in talks along with the telecoms company and is waiting on it to move or scale down thus a section of the residential or commercial property at 311 E. Balboa can also be purchased.It's not clear from team files exactly how soon staffs could begin on a brand-new car park. In the meantime, representatives were actually thinking about utilizing the existing property as a short-lived station house while construction of a new facility for the fire department resided in progress.Tenants presently stay in 2 of the units at the lately sold triplex. They are going to be eligible for relocation support "not foreseed to exceed $90,000 each," according to area personnel.