Parkview Provides $80M for Newport Beach Lux Condo Development
Los Angeles-based Parkview Financial provided an $80 million construction loan to One Newport Development, LLC for the development of Uptown Newport, a 66-unit, for-sale, luxury condominium project in Newport Beach. Situated on a 1.06-acre land parcel at 4311 to 4321 Jamboree Rd., the fully entitled property has undergone grading and vertical construction is scheduled to commence in early 2021 with completion anticipated in late 2022.
The six-story property will feature units ranging from 1,100-square-foot one-bedroom units to three-bedroom units totaling up to 3,285 square feet with estimated pricing ranging from $1.1 million to $4.3 million.
The units will feature a myriad of upgrades and special touches including ten-foot-high ceilings, modern gas fireplace in the living room with stone surround, quartz countertops and backsplashes in the kitchen, upgraded appliances including beverage center and wine refrigerator, smart home features, LED lighting, and patio with speaker system. Common area features and amenities will include public spaces, pool, 24-hour concierge/attendant, secured access, library, and a fully-equipped gym.
For comments, questions or concerns, please contact Dennis Kaiser