One Newport secures $80 million loan for condo project in Newport Beach

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Credit: City of Newport Beach

One Newport Development has secured an $80 million construction loan from Parkview Financial to build a residential project in Newport Beach.

The project, Uptown Newport, will consist of 66 for-sale condominiums on a 1.06-acre land parcel at 4311 to 4321 Jamboree Rd. Lucien Lagrange Studio is the architect and interior designer for the project.

The six-story property will feature units ranging from 1,100-sq.-ft. one-bedroom units to three-bedroom units totaling up to 3,285 sq.-ft. Amenities will include public spaces, pool, 24-hour concierge/attendant, secured access, library, and a fully equipped gym. In addition, the project will feature ground floor and subterranean parking totaling 121 spaces.

Construction is set to begin in early 2021 with completion anticipated for late 2022.

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