Park Newport, the largest apartment complex in the vicinity of Fashion Island with 1,306 units, is looking to expand, adding another notable proposed housing project to the high-end area of Newport Beach.
Developers have proposed building another 360 units to the complex that overlooks the Back Bay, at the intersection of Jamboree Road and San Joaquin Hills Road. The new additions would range from studios to 3-bedroom units and be built on a 6-acre portion of the 52-acre complex that now holds a pool, tennis courts, a parking structure and other buildings, city filings indicate.
If the project, being overseen by SF-based Prado Group, is completed, it would make Park Newport the largest apartment complex in the city. The 1,447-unit Eight 80 complex next to Newport Harbor High School is currently Newport Beach’s largest, according to CoStar data.
Famous residents of Park Newport over the decades have included actors Norman Fell and Telly Savalas, actresses Sandy Duncan and Raquel Welch, and athletes Joe Torre, Bobby Riggs and Dennis Rodman, according to Business Journal Editor at Large Rick Reiff, who lived at the complex when he first moved to OC.
Park Newport’s expansion is one of several housing projects being eyed around Newport Center. Also on the docket: residential towers proposed at a movie theater site across the street from Fashion Island, planned by Related California; new condo units on land surrounding Newport Beach Country Club being overseen by Eagle Four Partners; and multiple projects under consideration by Irvine Company, according to city filings.
Irvine Co. is already spending heavily on some of its proposed projects, in the last year spending over $54M for a pair of offices in the 100 block of Newport Center Drive next to its existing Gateway Plaza office complex. Several hundred rental units are being considered for the site, which would result in the existing low-rise offices being demolished.
Its latest office buy on the block, the $18M purchase of 190 Newport Center Drive, closed last month. At over $1,500 per square foot, it’s among the pricier mid-sized office buys in OC history, on a PSF basis. Irvine Co. last year paid even more, over $2,000 PSF, for 100 Newport Center Drive in a $36.5M deal on the same block.
The Jan. 27 edition of the Insider noted the recent tennis success of Irvine’s Learner Tien, who made the 4th round of the Australian Open.
19-year-old Tien wasn’t the only OC youngster who made waves at the Grand Slam event, notes Blue Wave Micro’s Keith Andrews. Also making the fourth round: 20-year-old Alex Michelsen, who hails from Aliso Viejo and is now ranked No. 37 in the world. He’s the third-youngest player ranked in the top 50.
Both Tien, currently ranked No. 82, and Michelsen count another similarity: both of their fathers are lawyers.
