.A triplex accepted for investment last month due to the Common council at the edge of Balboa Blvd and Coronado Street might end up being a public vehicle parking lot.The purchase of the property at 301 E. Balboa Blvd. was part of the consent calendar on the Aug. 27 meeting of the Common council, as well as got consensual confirmation. It was actually sold by Linda and also Bobby Hanada for $2.6 million, depending on to urban area staff.The great deal it might be actually converted into would certainly serve the eastern side of the Balboa Peninsula, where car park is actually particularly challenging to find. Public locations for people in that place are actually usually discovered at the boat dock, one whole lot on Palm Road and limited street rooms." This vehicle parking, particularly throughout optimal summer time need, typically performs not fulfill the car parking requirements of the place," Newport Seaside Real Property Supervisor Lauren Wooding Whitlinger filled in a report.The residential or commercial property sold by the Hanada family is at the exact same intersection as a structure possessed by AT&T that Newport Seashore representatives would additionally like to develop into a parking lot. The city has actually resided in chats along with the telecoms company and is awaiting it to transfer or even scale down so a portion of the property at 311 E. Balboa can additionally be actually purchased.It's confusing from team documents just how soon staffs could break ground on a brand-new parking lot. Meanwhile, representatives were considering using the existing building as a momentary station house while development of a new location for the engine company resided in progress.Tenants currently stay in two of the units at the recently offered triplex. They will certainly be actually entitled for relocation help "not anticipated to go over $90,000 each," according to city personnel.