.A triplex accepted for acquisition last month due to the City board at the corner of Balboa Blvd and Coronado Street may end up being a public car parking lot.The acquisition of the home at 301 E. Balboa Blvd. belonged to the permission calendar on the Aug. 27 meeting of the Common council, and also obtained consensual confirmation. It was actually marketed by Linda as well as Bobby Hanada for $2.6 thousand, depending on to urban area staff.The whole lot it may be actually exchanged will offer the eastern side of the Balboa Peninsula, where vehicle parking is especially difficult to discover. Public areas for individuals because place are actually typically located at the pier, one lot on Hand Street as well as restricted road areas." This car parking, especially throughout top summer requirement, often performs not fulfill the car parking demands of the region," Newport Beach Real Estate Administrator Lauren Wooding Whitlinger wrote in a report.The residential property offered by the Hanada family members is at the very same junction as a building possessed through AT&T that Newport Seaside authorities would certainly additionally just like to become a parking area. The city has been in chats along with the telecommunications provider and also is awaiting it to transfer or downsize so a portion of the residential or commercial property at 311 E. Balboa may likewise be purchased.It's unclear from personnel reports how soon teams could break ground on a brand-new parking area. For the time being, officials were actually considering making use of the existing property as a short-lived fire station while building of a brand new resource for the engine company was in progress.Tenants currently stay in 2 of the units at the recently marketed triplex. They will be entitled for relocation assistance "certainly not expected to exceed $90,000 each," according to urban area staff.