Shopoff Realty Investments Moves Ahead with $90M Luxury Condominium Community in Newport Beach
Parkhouse Residences Will Be Premier Residential Offering within $1.25 Billion Master-Planned Development
Newport Beach, Calif. (Feb. 2, 2021) – Shopoff Realty Investments, a national real estate and investment firm based in Irvine, announced today details of a $90 million luxury condominium community coming to Newport Beach as part of its $1.25 billion master-planned development, Uptown Newport.
Expected to break ground next month, Parkhouse Residences will be the premier condominium offering within the 25-acre, two -phase development that is now underway. Comprised of five distinct buildings, each meticulously designed by WHA Architects, Parkhouse Residences will feature a limited collection of 30 homes with a combination of half-floor flats and two-story penthouses priced from approximately $1.9 million.
“Parkhouse Residences will be the only opportunity to own a brand-new luxury condominium in Newport Beach with a curated, resort-style amenity offering and direct access to a highly connected area of the city that is seeing exciting growth,” said Bill Shopoff, president and CEO of Shopoff Realty Investments. “For nearly 30 years, our firm has created over 12,000 residences, however Parkhouse is uniquely personal to me and my wife Cindy. We’ve designed it to align with a lifestyle that matches how we want to live. No detail has been overlooked within these sophisticated, understated luxury homes.”
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.
More than a decade in the making and when fully completed, Uptown Newport will feature 1,244 luxury homes and rental apartment residences, up to 11,500 square feet of retail and restaurants and two one-acre parks open to the public, as well as, plazas, fountains and several public paseos. A two-phase project, the first phase consists of Parkhouse Residences, future retail, an additional residential development, plus the 458-residence One Uptown Newport luxury apartment community, which is now open and almost fully leased.
For sales and marketing at Parkhouse, Shopoff has hired Polaris Pacific, the leading real estate sales and marketing group for new residential communities with a 30-year legacy of success in the Western United States. Sales launch Spring 2021 with completion expected in late 2022. An interest list is now forming to be among the first to receive information about the upcoming sales debut. For more and to register, visit ParkhouseResidences.com.
About Shopoff Realty Investments
Shopoff Realty Investments is a real estate and investment firm based in Irvine, Calif., with more than 25 years of experience in privately held real estate and development. It offers strategic investment opportunities in land, residential and commercial properties, mortgage products, and pooled funds to qualified, high net worth clients. Shopoff Realty Investments was formally known as The Shopoff Group. For more information, visit https://www.shopoff.com/.
About Polaris Pacific
Polaris Pacific is the leading real estate sales and marketing group for today’s new residential condominium communities. Drawing on a 30-year legacy of success in the Western United States, Polaris Pacific specializes in new development, leveraging the latest tools and technology to create a clear path forward. For more, visit PolarisPacific.com.