.A triplex authorized for purchase final month due to the City Council at the edge of Balboa Boulevard and also Coronado Road may become a public auto parking lot.The investment of the residential property at 301 E. Balboa Blvd. belonged to the permission calendar on the Aug. 27 meeting of the Common council, as well as got unanimous confirmation. It was actually offered through Linda and Bobby Hanada for $2.6 million, depending on to city staff.The lot it might be actually converted into will provide the eastern side of the Balboa Headland, where car parking is specifically difficult to discover. Public areas for people in that region are actually mostly discovered at the boat dock, one great deal on Hand Road and also restricted street areas." This parking, particularly during height summer time demand, typically does not satisfy the parking requirements of the area," Newport Beach Real Estate Administrator Lauren Wooding Whitlinger filled in a report.The property sold due to the Hanada household goes to the same junction as a property had by AT&T that Newport Beach officials would additionally such as to develop into a car park. The city has actually remained in chats with the telecoms firm and also is waiting for it to relocate or downsize so a portion of the residential or commercial property at 311 E. Balboa may likewise be actually purchased.It's uncertain from staff reports how quickly crews could break ground on a brand-new parking lot. In the meantime, authorities were looking at making use of the existing property as a momentary station house while building and construction of a brand-new resource for the fire department was in progress.Tenants presently live in two of the units at the just recently offered triplex. They will definitely be eligible for relocation support "certainly not foreseed to surpass $90,000 per unit," depending on to metropolitan area personnel.