.A triplex accepted for investment last month by the City Council at the corner of Balboa Boulevard and Coronado Road might come to be a public vehicle parking lot.The purchase of the residential property at 301 E. Balboa Blvd. belonged to the authorization calendar on the Aug. 27 conference of the City Council, and also received consentaneous confirmation. It was offered through Linda and Bobby Hanada for $2.6 million, according to metropolitan area staff.The whole lot it may be actually converted into will offer the eastern side of the Balboa Cape, where parking is actually especially tough to find. Community spots for individuals during that region are usually discovered at the pier, one lot on Palm Street as well as minimal street spaces." This parking, particularly during height summer time need, frequently performs certainly not fulfill the vehicle parking needs of the region," Newport Seashore Real Estate Manager Lauren Wooding Whitlinger filled in a report.The property sold by the Hanada loved ones goes to the same junction as a property possessed by AT&T that Newport Seaside authorities would additionally as if to become a car park. The area has resided in chats with the telecommunications business as well as is actually expecting it to move or scale down so a portion of the home at 311 E. Balboa can also be purchased.It's unclear coming from workers reports how quickly staffs might begin on a brand new parking lot. Meanwhile, authorities were taking into consideration making use of the existing structure as a momentary station house while development of a brand new center for the fire department resided in progress.Tenants presently stay in two of the units at the just recently sold triplex. They are going to be actually qualified for moving assistance "certainly not prepared for to go beyond $90,000 each," depending on to city team.