.A triplex authorized for investment last month by the City board at the edge of Balboa Blvd and also Coronado Road might end up being a public auto parking lot.The investment of the residential property at 301 E. Balboa Blvd. became part of the approval calendar on the Aug. 27 appointment of the Common council, and got unanimous authorization. It was actually sold through Linda and also Bobby Hanada for $2.6 million, depending on to city staff.The great deal it might be converted into would offer the eastern side of the Balboa Cape, where vehicle parking is actually particularly challenging to discover. Community areas for people during that region are actually usually found at the pier, one great deal on Hand Road and also limited street areas." This car parking, especially in the course of height summer season need, frequently does not meet the auto parking demands of the area," Newport Beach Front Real Estate Supervisor Lauren Wooding Whitlinger wrote in a report.The home marketed by the Hanada family goes to the same junction as a building possessed by AT&T that Newport Seaside authorities would certainly likewise like to develop into a parking area. The metropolitan area has remained in speaks along with the telecoms firm and also is waiting on it to move or even scale down thus a portion of the home at 311 E. Balboa can additionally be purchased.It's uncertain from staff documents exactly how soon staffs might begin on a brand-new parking area. In the meantime, authorities were actually considering making use of the existing building as a temporary station house while building and construction of a brand new center for the fire department remained in progress.Tenants currently stay in two of the systems at the recently marketed triplex. They will definitely be eligible for moving support "not expected to exceed $90,000 per unit," depending on to area personnel.