.A triplex approved for purchase last month by the City board at the section of Balboa Boulevard and Coronado Street may end up being a public parking lot.The purchase of the residential or commercial property at 301 E. Balboa Blvd. became part of the approval schedule on the Aug. 27 appointment of the Common council, and received unanimous authorization. It was sold through Linda and Bobby Hanada for $2.6 thousand, according to city staff.The great deal it may be converted into will offer the east edge of the Balboa Cape, where vehicle parking is actually particularly tough to find. Public locations for folks because region are mostly discovered at the pier, one great deal on Hand Road and also minimal street spaces." This parking, specifically in the course of optimal summer season need, typically performs not comply with the car park demands of the area," Newport Beach Real Property Administrator Lauren Wooding Whitlinger wrote in a report.The property marketed due to the Hanada household is at the exact same junction as a property possessed by AT&T that Newport Seashore officials will likewise like to turn into a parking lot. The city has resided in talks with the telecommunications company and also is expecting it to transfer or downsize therefore a section of the residential or commercial property at 311 E. Balboa can likewise be actually purchased.It's unclear from team reports exactly how very soon staffs might break ground on a new parking lot. For the time being, authorities were looking at making use of the existing structure as a temporary station house while building and construction of a new center for the fire department remained in progress.Tenants currently stay in two of the systems at the recently offered triplex. They will definitely be entitled for relocation aid "not anticipated to exceed $90,000 per unit," according to city workers.