.A triplex approved for investment last month by the Common council at the corner of Balboa Blvd and Coronado Street might end up being a public car parking lot.The acquisition of the residential property at 301 E. Balboa Blvd. was part of the authorization calendar on the Aug. 27 appointment of the Common council, as well as obtained unanimous approval. It was marketed through Linda and also Bobby Hanada for $2.6 million, according to urban area staff.The lot it may be exchanged will serve the east side of the Balboa Cape, where car parking is actually especially challenging to locate. People spots for folks because place are mostly discovered at the boat dock, one lot on Palm Street and also minimal road spaces." This auto parking, specifically during the course of top summertime demand, often performs certainly not fulfill the parking necessities of the area," Newport Coastline Real Property Supervisor Lauren Wooding Whitlinger wrote in a report.The property sold by the Hanada family members is at the exact same crossway as a property had by AT&T that Newport Seaside officials would also such as to turn into a parking lot. The urban area has actually been in talks with the telecommunications provider and is actually awaiting it to relocate or even downsize so a part of the residential or commercial property at 311 E. Balboa may likewise be purchased.It's unclear from personnel documents how soon crews may break ground on a new parking lot. Meanwhile, officials were taking into consideration making use of the existing building as a momentary station house while building of a brand-new facility for the fire department resided in progress.Tenants presently live in 2 of the units at the lately offered triplex. They will definitely be qualified for moving help "certainly not prepared for to go over $90,000 each," depending on to metropolitan area personnel.