Here is an article from the Daily Pilot which outlines a proposed land exchange with the Irvine Company. The parcel is four acres on the waterfront of the back bay just below the Castaways development.
Newport Beach city officials say the acquisition of a 4-acre piece of land on East Coast Highway with access to Upper Newport Bay as part of a multi-million-dollar development agreement with the Irvine Co. is a boon for the city.
“I think we’ll look back on it, and this will be one of the major benefits of this deal,” said Councilman Steve Rosansky, who helped broker the Irvine Co. deal, along with Mayor Ed Selich. “It’s one of the last pieces of undeveloped land on the waterfront.”[read more…]