.A triplex authorized for investment final month due to the City board at the corner of Balboa Blvd and Coronado Road may come to be a public vehicle parking lot.The investment of the building at 301 E. Balboa Blvd. became part of the approval calendar on the Aug. 27 meeting of the City Council, and also acquired consentaneous approval. It was offered by Linda and also Bobby Hanada for $2.6 million, depending on to city staff.The great deal it may be exchanged would provide the east edge of the Balboa Cape, where car park is actually specifically difficult to find. People places for people because region are mostly located at the boat dock, one great deal on Palm Street as well as restricted road areas." This vehicle parking, particularly during the course of optimal summertime requirement, frequently does not comply with the car park necessities of the place," Newport Beach Real Estate Supervisor Lauren Wooding Whitlinger recorded a report.The residential property sold by the Hanada loved ones is at the same intersection as a property had by AT&T that Newport Coastline representatives will also just like to develop into a parking area. The city has remained in talks along with the telecoms company and also is actually awaiting it to transfer or even scale down so a part of the property at 311 E. Balboa may likewise be purchased.It's confusing from staff documents exactly how very soon crews might begin on a brand new parking lot. Meanwhile, representatives were actually taking into consideration making use of the existing building as a temporary station house while building of a brand new facility for the engine company was in progress.Tenants currently live in 2 of the systems at the lately offered triplex. They will definitely be actually qualified for relocation aid "certainly not prepared for to exceed $90,000 each," according to urban area staff.