Posted July 2026 | By Eric Engelbert | This page will be updated as the project moves through the approval and construction process.
New Apartments Planned at 1526 Placentia Ave, Newport Beach
A new apartment complex is in the early planning stages at 1526 Placentia Ave in Newport Beach. The project, filed under permit application PR2024-0500, involves Cefalia Development, a Newport Beach-based general contractor and real estate developer with a track record of infill residential projects throughout the Newport Beach and Costa Mesa corridor.
The site was previously occupied by a single-story convenience store, a 2,700 square foot building constructed in 1966 that operated for decades as a neighborhood liquor store. The parcel is 0.35 acres with 69 feet of frontage on Placentia Ave and is zoned RM (Residential Medium Density) by the City of Newport Beach, a designation that supports multifamily residential development. The land alone carried an assessed value of approximately $3.7 million at the time of sale.
Details on unit count, building height, and project timeline have not yet been released publicly. This blog will be updated as the project moves through the city's review and approval process.
About Cefalia Development
Cefalia Development is led by Jeff Cefalia, a licensed General Contractor (Class A and B) and licensed real estate broker based in Costa Mesa. The firm focuses on three areas: custom luxury home construction in Newport Beach, infrastructure and public right-of-way engineering, and multifamily residential development in Orange County.
Why This Project Is Worth Watching
The West Newport stretch of Placentia Ave sits in one of the more supply-constrained rental corridors in Orange County. The neighborhood is walkable to Newport Beach's bike path system, close to the beach, and surrounded by established residential on all sides. New multifamily construction at this scale and in this location is relatively uncommon, which means the project is likely to draw attention from both prospective renters and investors when units eventually come to market.
For buyers and investors watching the West Newport area, infill projects like this one are also useful market signals. When a developer acquires a commercial site at $3.7 million in assessed land value and files for a residential conversion, it reflects confidence in the long-term demand for rental housing in that submarket. Newport Beach's RM zoning in this corridor has seen consistent redevelopment pressure over the past decade as older retail and light commercial uses have been replaced with new residential product.
Project Status: Early Stages
As of July 2026, this project is in the very early stages of the City of Newport Beach review process. The following details are not yet publicly available:
- Project name
- Unit count
- Building height and design
- Expected groundbreaking date
- Estimated completion
We will update this page as information becomes available through the city's planning and permit process. If you are tracking this project or have additional details, feel free to reach out directly.
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