NEWPORT BEACH, Calif., June 1, 2021 /PRNewswire-PRWeb/ -- Earlier this week Shopoff Realty Investments, a leading national real estate and investment firm based in Irvine, broke ground on a $90 million luxury condominium community, Parkhouse Residences, that is the only brand-new luxury condominium development of its kind on the horizon for Newport Beach.
Newport Beach Mayor Brad Avery and Councilperson Marshall "Duffy" Duffield joined other local dignitaries, community leaders and the Shopoff team during a private, socially-distanced groundbreaking ceremony on May 19 to commemorate the start of construction.
"Today marks a new era of housing in Newport Beach with the groundbreaking of Parkhouse Residences, bringing a much-needed addition to this extraordinary city as it continues to grow," said Mayor Avery. "Shopoff Realty Investments is creating living opportunities that haven't existed in the past and I look forward to seeing the next phase of housing coming to the area with Bill Shopoff as a proud champion of Newport Beach."
Over the coming months, a flurry of construction activity is expected across the 25-acre, two-phase development that is part of the $1.25 billion master-planned community of Uptown Newport, located near Jamboree Road and MacArthur Boulevard. Parkhouse's five, five-story buildings will feature a limited collection of 30 homes with a combination of three-bedroom, half-floor flats and two-story penthouses priced from approximately $1.9 million. Completion of construction is expected in spring 2022 with homeowners moving in soon after.
"The enthusiasm surrounding Parkhouse Residences since we announced the project in February has been overwhelming and has resulted in hundreds of inquiries from prospective buyers locally and nationally," said Bill Shopoff, president and CEO of Shopoff Realty Investments. "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. We look forward to seeing this community take shape in the coming months."
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, direct elevator entry and, just outside, Parkhouse's namesake – the pristine one-acre Uptown Park, a shaded, grassy village green.
For more information or to register to be among the first to learn about the summer sales launch, visit ParkhouseResidences.com.
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SOURCE Shopoff Realty Investments
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