.A triplex authorized for purchase last month by the City board at the corner of Balboa Blvd and Coronado Street may end up being a public parking lot.The acquisition of the home at 301 E. Balboa Blvd. became part of the authorization schedule on the Aug. 27 meeting of the Common council, and got consentaneous approval. It was marketed through Linda and Bobby Hanada for $2.6 thousand, depending on to metropolitan area staff.The great deal it may be exchanged will provide the east side of the Balboa Cape, where vehicle parking is actually particularly challenging to find. People spots for individuals during that area are mainly located at the pier, one whole lot on Hand Street and also minimal road spaces." This parking, particularly during top summer season requirement, commonly performs not fulfill the car parking requirements of the area," Newport Coastline Real Property Manager Lauren Wooding Whitlinger filled in a report.The residential property sold by the Hanada family is at the same intersection as a building owned by AT&T that Newport Beach authorities would additionally like to become a parking lot. The city has been in talks with the telecoms company and also is waiting on it to transfer or even downsize therefore a portion of the building at 311 E. Balboa can easily additionally be purchased.It's confusing coming from workers reports just how very soon crews may break ground on a brand-new car park. Meanwhile, representatives were actually taking into consideration making use of the existing property as a temporary fire station while building of a new facility for the fire department remained in progress.Tenants currently live in two of the systems at the recently offered triplex. They will certainly be entitled for relocation support "not foreseed to go over $90,000 per unit," according to area staff.