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.
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