NEWPORT BEACH一 On June 1, Discovery Cube announced they were selling their Ocean Quest property, the well-loved Balboa Fun Zone, to Costa Mesa-based real estate development firm Chartwell.
The new owners are long-time residents of Newport Beach and plan to restore and continue running the Balboa Fun Zone, according to a June 1 press release from Discovery Cube.
According to the press release Discovery Cube looked for a buyer that would continue to run and restore the Fun Zone for residents and tourists.
The acquisition was led by Chartwell’s Operating Partner Henry Pyle, the Pyle family have been residents of Newport Beach since the 1960s.
“We are excited and honored to assume stewardship of the iconic Balboa Fun Zone and look forward to working with the city and community of Newport Beach to restore this historic 80-year-old landmark,” said Pyle in the June 1 press release. “We are grateful to the Museum’s Board of Trustees for entrusting Chartwell with the preservation and restoration of the Fun Zone.”
The decision to sell the property was announced on Dec. 2, 2020, after almost a year of closure due to the COVID-19 pandemic that had a significant impact on the non-profit’s ability to garner revenue.
“With COVID, we’ve been...
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