.A triplex approved for acquisition final month due to the City board at the section of Balboa Boulevard and Coronado Road might end up being a public car parking lot.The investment of the residential property at 301 E. Balboa Blvd. belonged to the approval schedule on the Aug. 27 conference of the City Council, as well as received unanimous confirmation. It was offered by Linda and also Bobby Hanada for $2.6 million, depending on to metropolitan area staff.The lot it might be converted into will offer the east edge of the Balboa Cape, where car parking is particularly tough to find. Community places for individuals during that region are actually mainly located at the pier, one great deal on Hand Street as well as restricted road spaces." This vehicle parking, specifically during the course of height summertime requirement, commonly does certainly not comply with the vehicle parking necessities of the place," Newport Seaside Real Estate Administrator Lauren Wooding Whitlinger wrote in a report.The property sold due to the Hanada family members goes to the very same junction as a building owned by AT&T that Newport Seaside authorities would likewise like to develop into a parking lot. The area has remained in speaks along with the telecommunications firm and also is actually expecting it to transfer or downsize therefore a portion of the property at 311 E. Balboa may also be purchased.It's unclear from personnel files just how soon workers might begin on a brand-new parking lot. For the time being, officials were actually considering utilizing the existing building as a short-lived fire station while construction of a brand-new location for the engine company resided in progress.Tenants presently stay in 2 of the systems at the just recently marketed triplex. They are going to be eligible for moving support "certainly not foreseed to go beyond $90,000 per unit," according to metropolitan area workers.