.A triplex authorized for acquisition last month due to the City board at the edge of Balboa Blvd and Coronado Road might come to be a public auto parking lot.The acquisition of the property at 301 E. Balboa Blvd. became part of the approval calendar on the Aug. 27 meeting of the City Council, as well as received consensual confirmation. It was offered by Linda and also Bobby Hanada for $2.6 thousand, depending on to urban area staff.The lot it may be converted into will offer the eastern side of the Balboa Cape, where parking is especially difficult to locate. Community areas for people because location are actually mostly located at the boat dock, one whole lot on Palm Street as well as restricted road spaces." This vehicle parking, especially in the course of top summer demand, often does not meet the auto parking needs of the area," Newport Beach Front Real Estate Manager Lauren Wooding Whitlinger wrote in a report.The home offered due to the Hanada loved ones is at the same crossway as a property had through AT&T that Newport Beach representatives would likewise like to turn into a parking lot. The urban area has remained in chats with the telecommunications company and also is waiting for it to relocate or even downsize thus a section of the residential or commercial property at 311 E. Balboa may additionally be actually purchased.It's not clear coming from staff files exactly how soon staffs might begin on a new parking area. In the meantime, officials were actually taking into consideration utilizing the existing structure as a short-lived fire station while development of a new center for the engine company resided in progress.Tenants presently live in 2 of the devices at the lately sold triplex. They will be entitled for relocation assistance "not foreseed to exceed $90,000 each," according to urban area team.