Shea Homes to Build 23 Townhomes at Newport Beach’s Uptown Newport Village

Shopoff Realty Investments recently announced the sale of an entitled development site within its 25-acre Uptown Newport Village property in Newport Beach to Shea Homes. The parcel, known as the Park Palm site at 4311 Jamboree Road, is approved for the construction of 23 townhomes. This transaction marks a significant step in the long-term vision for Uptown Newport Village, which Shopoff acquired over 15 years ago with the aim of transforming Orange County's airport submarket with residential uses.

The broader Uptown Newport Village project holds entitlements for up to 1,244 residential units, 11,500 square feet of commercial space, and two one-acre parks. Previous phases have already seen the completion of the 458-unit One Uptown Newport apartment community by The Picerne Group and the 30-unit Parkhouse Residences developed by Shopoff. The Park Palm site represents the final component of the initial redevelopment phase. Shea Homes is slated to commence groundbreaking on the townhomes in 2027, with anticipated completion between 2028 and 2029. This development underscores the ongoing demand for infill residential opportunities in Orange County.