Shopoff Realty Investments successfully completed the entitlement process in the City of Newport Beach in early 2013 with unanimous approvals from both the Planning Commission and City Council. The entitlements and land use approvals include: a certified environmental impact report (EIR); Planned Community zoning with site-specific zoning standards; architectural and landscape design guidelines; a tentative tract map; an affordable housing implementation plan; and a development agreement that vests the entitlements through 2025. Shopoff Realty Investments also gained approval from the Planning Commission for master architecture and landscape architecture that allows subsequent site development plan approvals to be processed at the City staff level and does not require future Planning Commission or City Council approval as is typically required for projects within the City. This will expedite and substantially simplify the future implementation of individual buildings planned for construction in Uptown Newport.
This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.