First Look at a Proposed 312-Unit Apartment Project in Newport Beach

Earlier last month, TPG (KCN) Acquisition LLC, an entity linked to the Picerne Group, submitted an application to develop a 12.7 acres site into a 312-unit apartment building with 852 stalls within the apartment garage, a detached 278-stall parking structure, and a 0.5-acre public park.

located in Koll Center Newport at 4440 Von Karman Avenue, the proposed project would include 299 market-rate units and 13 very-low affordable units.  

The proposed unit breakdown is: 

• 55 – Studios
• 149 – 1 Bedroom
• 108 – 2 Bedroom

The 5-story podium apartment building would consist of 4 stories of residential units over 1 level of on-grade parking and 2 levels of below-grade parking with an overall building height of approximately 70 feet. The proposed free-standing garage will consist of 3 levels of parking with an overall height of approximately 40 feet.

According to the architectural plans by TCA Architects, the project will feature a dog park, bike shop, fitness room, club room, and roof deck. 

Previously, Shopoff Realty Investment had planned to develop three 13-story condominium towers consisting of 260-unit at the same project site.