THE OPPORTUNITY
In 2010, Shopoff acquired Uptown Newport, a 25-acre site and secured entitlements for 1,244 total units, 11,500-sq-ft of retail space, and two one-acre parks in Newport Beach, CA.
Parkhouse Residences is included in Phase 1 of Uptown Newport Master Plan Development.
HOW SHOPOFF ADDED VALUE
In May 2021, Shopoff began construction on the $90 million luxury condominium community.
President and CEO, Bill Shopoff added “These brand-new, sophistical residences will set a new standard of high-end, high-style condominium living in Newport Beach with low-rise buildings, direct elevator entry, half-floor residences and private garages.”
With residential interiors by internationally acclaimed and locally adored Blackband Design, Parkhouse is the epitome of sophisticated coastal chic living, with oversized windows and seamless terraces, that usher in Southern California’s iconic light and ocean breezes. Effortless living extends to thoughtful amenities including a lap pool and hot tub, a resort-inspired cabana, a state-of-the-art fitness center, private garages, elevator entry and, just outside, Parkhouse’s namesake – the pristine one-acre Uptown Park, a shaded, grassy village green.
THE RESULT
In September 2021, Shopoff launched sales for Parkhouse Residences. The development is spread across five buildings with six condos each. Units range from 2,052 to 2,861 square feet, with prices starting at $2 million and extending beyond $4.8 million. Currently, over 80% of the units have been sold or are under contract. The residences include half-floor condos and two-story penthouses furnished with top-of-the-line finishes, providing an elegant and luxurious living experience.
Learn more at parkhouseresidences.com.
