.A triplex authorized for acquisition final month by the Common council at the section of Balboa Blvd and Coronado Street may end up being a social auto parking lot.The acquisition of the residential property at 301 E. Balboa Blvd. was part of the consent schedule on the Aug. 27 conference of the Common council, and obtained unanimous authorization. It was offered through Linda as well as Bobby Hanada for $2.6 million, according to area staff.The lot it may be actually exchanged will offer the east side of the Balboa Cape, where parking is specifically tough to discover. Community areas for people because region are mostly found at the pier, one lot on Hand Road and minimal road rooms." This auto parking, specifically in the course of peak summer time demand, usually carries out not fulfill the auto parking needs of the place," Newport Coastline Real Estate Manager Lauren Wooding Whitlinger wrote in a report.The residential property sold due to the Hanada household goes to the same junction as a building possessed through AT&T that Newport Beach front authorities will also just like to turn into a parking lot. The urban area has been in talks with the telecommunications business and is actually waiting for it to relocate or even downsize thus a part of the building at 311 E. Balboa can easily also be purchased.It's not clear from personnel records exactly how quickly staffs might begin on a brand new parking area. In the meantime, authorities were actually considering making use of the existing property as a temporary station house while building of a brand new center for the engine company resided in progress.Tenants presently live in two of the systems at the lately sold triplex. They will certainly be entitled for relocation assistance "certainly not prepared for to go over $90,000 per unit," according to city workers.