DJM Reveals Plans for Lido Marina Villageposted: 1/30/2014
“It looks very exciting,” said City of Newport Beach Mayor Rush Hill. “I think everyone is in supportive of you moving forward as rapidly as you can.”
Lindsay Parton, president of DJM Capital, the corporation that purchased Lido Marina Village in spring 2013, presented councilmembers with conceptual plans for the parcel.
“We’re obviously very familiar with the history of Lido Marina Village,” Parton said. “Our predecessor didn’t quite live up to what they hoped to make happen there. We look at being involved in the Lido Marina Village project as a great opportunity for DJM.”
DJM Capital Partners Inc., who most recently redeveloped the Bella Terra shopping center in Huntington Beach, plans to redirect the feel and atmosphere of the area. The village’s brick floors will be replaced with planks; the color pallet will include a light white color with some charcoal and grey, texture, signage, and awnings will also be replace, Parton said.
On the waterside, DJM Capital plans extend the promenade by 3-feet and reconfigure the marina to allow for some “functional reorganization.” “It’s a little confusing when you go down there now,” Parton explained. The marina currently has the capability to house 47 boats but it’s holding about 90 boats, he added.
DJM proposes a much more spread out marina that will not impact the number of slips.
The marina and promenade reconfiguration will go before the Harbor Commission for review. Waterside Plans may require California Coastal Commission approval.
“One of the things we’re focusing on and one of things I know Harbor Commission recently concluded a study on is the desire for additional public piers,” said Newport Beach Mayor Rush Hill. “And the study that they’ve done is very focused on the fact that they’re looking for areas that contain all the elements that Lido Village contains. I would be pretty safe in saying that if it’s not the highest it’s one of the highest priority areas.”
Parton assured Mayor Hill that they are amenable to working in areas for public docking and tie ups.
Revitalizing the parcel has been on the city’s “wish list” for years. In 2010, the Newport Beach City Council made the center one of its top priorities and led a comprehensive study with Vornado Realty Trust and the Fritz Duda Co., owner of the Via Lido Plaza center. The study focused on how to bring visitors back to of the 17-acre shopping village.
In April, DJM Capital purchased the village from Vornado Realty Trust with every intention of “re-visioning’ the property.
“It’s our intention to fully renovate Lido Marina Village as well as the marina and turn it into a very very special place for the city of Newport Beach,” Parton said.
The company is ready to start painting as soon as possible, he added.