REAL ESTATE : Private Yacht Club, Offices to Occupy Tokai Bank Building Site This Fall
A marina and the five-story Tokai Bank Building on West Coast Highway near Newport Boulevard in Newport Beach will be renovated and the building converted to offices, while the marina will become a private yacht club.
The project is a joint venture between Haseko (California) Inc.--the Los Angeles-based arm of a Japanese real estate company--and Language Services West Inc., a Tokyo language instructor.
The project, which will now cost far more than the $2.3 million originally estimated, is scheduled for completion in the fall.
The marina will be operated by the Harbor Club, a private club that will offer overnight and permanent boat slips, boat charters, a restaurant and bar, meeting rooms and a swimming pool and spa.
The president of the club is Richard Stevens, who was president of the Balboa Bay Club and co-owner with Jack Wrather from 1963 to 1972.
The five-story office building, Harbor Club Tower, will also include shops.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
