Developers of the proposed residences at 1300 Bristol St. secured the necessary rights to the land with unanimous approval from the Newport Beach City Council this week.
The project will replace an existing office building with a 193-unit apartment building to be built on top of a 346-space underground parking structure at the corner of North Bristol and Spruce streets.
City staff confirmed Wednesday that while the project has received its rights, developers will still need to apply for building permits.
Approximately 169 of the units will be offered for rent at market rates and 24 will be considered affordable housing for low and very low incomes.
The structure is expected to be about 78 feet tall, which associate planner Chelsea Crager says is about six levels above ground and two levels below.
The applicant in the project is the Picerne Group, which operates both One Uptown Newport and the 4400 Von Karman housing estate near John Wayne Airport, which received unanimous approval from city council in January last year.
The site is located in what is considered the “airport zone” of Newport Beach.
Crager said the Picerne Group is entitled to seek inducements due to state housing law. They asked to provide more affordable studio and one-bedroom units instead of two-bedroom units and that the city waive payment of replacement fees for a ½ acre park.
City staff said the project complies with city zoning laws as well as state environmental law.
Councilwoman Diane Dixon called the claimant’s investment in the airport area “remarkable”, noting that there are now three housing projects being developed by the Picerne Group.
She expressed concern about whether developments in the area would also be able to provide more parks and open spaces for the general public, but added that she supported the project.
“This is the future of the airport area,” Councilman Brad Avery said before the vote. “Uptown was a great project. The scale is good. It’s not above. The materials are there. Picerne Group has already proven itself in the city, so that’s what we have to provide. Not only affordable housing for low-income people and very low-income housing, but we also need to provide market-priced housing.
“As we’ve all seen, it tears up as soon as it hits the market in products like this and residential and everything else in this town.”
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