Shopoff Sells Site of Proposed Newport Beach Condo Development

Shopoff Realty Investments has sold a proposed 1.06-acre condominium development, Park Palm in Newport Beach, to Shea Homes for an undisclosed sum. The property is part of Shopoff’s master plan community, Uptown Newport Village, and is entitled for 23 townhomes.

Shopoff acquired the 25-acre Uptown Newport Village site in December 2010. The firm set out to repurpose the land for a mixed-use residential village, rather than maintain its prior office and industrial uses. In 2013, Shopoff completed the entitlement process, allowing for master development to include 1,244 residential units, 11,500 square feet of commercial/retail space and two one-acre parks.

Phase I of the project has seen multiple developments completed, beginning with One Uptown Newport in 2019. Park Palm, which has been entitled for 23 townhomes, will round out Phase I. Construction on Park Palm is anticipated to begin in 2027, with completion expected in 2028-2029.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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