Parkhouse Residences Offers Much-Needed Housing to Newport Beach

Shopoff Realty Investments recently broke ground on a $90 million condominium community, Parkhouse Residences. It is the only new luxury condominium development of its kind on the horizon for Newport Beach.

“Today marks a new era of housing in Newport Beach with the groundbreaking of Parkhouse Residences, bringing a much-needed addition to this extraordinary city as it continues to grow,” said Brad Avery, Newport Beach mayor. “Shopoff Realty Investments is creating living opportunities that haven’t existed in the past.”

During the coming months, a flurry of construction activity is expected across the 25-acre two-phase development that is part of the $1.25 billion master-planned community of Uptown Newport located near Jamboree Road and MacArthur Boulevard. Parkhouse’s five five-story buildings will feature a limited collection of 30 homes with a combination of three-bedroom, half-floor flats and two-story penthouses priced from approximately $1.9 million. Completion of construction is expected in spring 2022 with homeowners moving in soon after.