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The Uptown Newport Apartments are getting closer to reality.
The Picerne Group in a JV with Shopoff Realty Investments recently held a groundbreaking for Phase 1 of the project.
The project will include 462 luxury apartments, 218 for-sale condos, 6,500 SF of restaurants and a one-acre public park on Jamboree Road between Birch Street and MacArthur Boulevard in Newport Beach.
The 462 apartments on five acres make up Phase 1.
The development has been in the works for years.
There will also be a 50-foot-wide central pedestrian paseo between the north and south buildings. Two amenity podium decks are connected by a bridge spanning the paseo.
When the project is completed, the Picerne Group will own and manage the apartments.
Leasing is expected to begin in 2019.
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