Mariner’s Mile and the adjacent Westcliff neighborhood in Newport Beach, California, have long been recognized for their automotive and nautical industries, featuring luxury car dealerships and yacht services. Recent years have seen significant business developments and ongoing revitalization efforts aimed at enhancing the area’s commercial appeal.
Key Business Transactions
- Khoshbin’s Landing Acquisition: In January 2020, real estate executive Craig Atkins expanded his portfolio by acquiring Khoshbin’s Landing, a prominent mixed-use property on Mariner’s Mile, for $40 million. The 33,000-square-foot property includes office spaces and notable restaurants such as Billy’s at the Beach and Louie’s by the Bay. Atkins expressed confidence in the area’s potential, stating, “Mariner’s Mile is an exciting place to be right now.”
- Mariner’s Mile Marine Center Sale: In February 2012, the Mariner’s Mile Marine Center, encompassing 36,000 square feet of office and retail space along with 11,000 square feet of shipyard and dock space, was sold for $24.9 million. The property houses yacht companies and a service boatyard for Duffy Electric Boat Co., highlighting the area’s nautical focus.
Revitalization Initiatives
The City of Newport Beach has identified Mariner’s Mile as a key area for revitalization. In 2011, it was designated as one of six “revitalization areas,” leading to the development of the Mariners’ Mile Revitalization Master Plan. This plan aims to guide future public and private improvements, focusing on land use, urban design, mobility, and creating a vibrant public waterfront. However, due to community concerns, the plan’s adoption was postponed, with further consideration expected following the comprehensive General Plan update initiated in 2019.
Recent Developments
- Proposed Mixed-Use Project: In May 2021, the Newport Beach City Council reviewed a proposal to redevelop a vacant marine sales facility into a boutique auto showroom and a 35-unit residential complex. The project faced scrutiny over parking requirements and alignment with the city’s general plan, reflecting the complexities involved in Mariner’s Mile redevelopment efforts.
Community and Economic Impact
The ongoing business transactions and proposed developments in Mariner’s Mile and Westcliff underscore the area’s economic vitality and potential for growth. The focus on revitalization aims to balance preserving the nautical heritage with accommodating modern commercial needs, ensuring that Mariner’s Mile remains a dynamic and attractive destination for both businesses and visitors.
As Newport Beach continues to evolve, Mariner’s Mile and Westcliff stand at the forefront of transformation, embodying the city’s commitment to fostering a vibrant and prosperous business environment.
