Posted July 2026 | Updated October 21, 2026 | By Eric Engelbert | Updated as the project progresses.
A Golf Course View That Became a $216 Million Deal
Newport Beach is in the middle of the most significant residential construction wave in its history, with multiple high-rise towers approved or planned in Newport Center. This is one in a series of profiles covering each project in the pipeline.
This one starts on a golf course. In mid-2020, Kevin Martin and Todd Pickup of Eagle Four Partners were playing a round at Newport Beach Country Club when they looked across Newport Center Drive at the 532-room Newport Beach Marriott Hotel and Spa, owned by Host Hotels and Resorts and sitting largely empty during the pandemic. Host had planned a $30 million renovation that no longer made sense. An unsolicited offer was made, and it was accepted.
That moment set in motion the Ritz-Carlton Residences, Newport Beach: a 22-story branded condominium tower at 900 Newport Center Drive, a dedicated affordable housing fund for the city, and one of the more unusual development stories in Orange County.
We will email you when pricing, floor plans, or a sales gallery is announced, and when construction milestones happen.
Email Eric to join the update list or call/text 949-430-7500
October 2026 Update: Where the Ritz-Carlton Residences Stand
| Topic | Latest |
|---|---|
| Approval | Approved unanimously by the Planning Commission on May 12, 2022 |
| Site work | Demolition of the older hotel wing began in early 2023 |
| Construction plans | The city's project list shows the underground parking structure and rough grading plans in plan check |
| Groundbreaking | As of 2026, the tower was still described as expected to break ground soon; we have not seen a formal groundbreaking announcement |
| Completion | An earlier target of 2026 has passed; a realistic completion is now 2028 or later |
| Sales | No pricing, floor plans, or sales gallery announced |
| Our update list | Email us to join and we will alert you to pricing, floor plans, and the sales launch |
From Marriott to VEA to Ritz: The Property History
| Date | Milestone |
|---|---|
| Decades | Operated as the 532-room Newport Beach Marriott Hotel and Spa, the anchor hotel of Newport Center |
| Mid-2020 | Eagle Four Partners and Lyon Living make an unsolicited offer to Host Hotels and Resorts |
| November 2020 | Purchase closes off-market at $216 million, about $406,000 per room |
| March 2021 | City adopts Council Policy K-4, allowing hotel-to-residential conversions |
| 2022 | Hotel reopens as VEA Newport Beach, a Marriott Resort and Spa, after a major renovation |
| May 12, 2022 | Planning Commission unanimously approves the Ritz-Carlton Residences |
| September 2022 | City's Housing Element adds Policy Action 4I, formalizing mixed-use resort conversions |
| Early 2023 | Demolition begins on the older hotel wing that will make way for the tower |
| 2026 | Parking and grading plans in plan check; groundbreaking pending |
VEA is not an official Marriott brand; Eagle Four created it with Marriott's approval to give the resort a more independent, coastal character, and planned it from the start alongside the future residences. The campus remains under the Marriott umbrella. With the conversion, VEA's room count has dropped from 532 to roughly 370 to 400 rooms, and the new tower replaces the older wing near self-parking.
The Project: 22 Stories, Newport Center's First Branded Residences
| Item | Detail |
|---|---|
| Address | 900 Newport Center Drive, Newport Beach, CA 92660 |
| Developers | Eagle Four Partners and Lyon Living (offered by Newport Center Residences, LLC under Ritz-Carlton license) |
| Architect | MVE Partners (Irvine) |
| Landscape architect | Burton Studios |
| Structural engineer | Glotman Simpson |
| Site | About 2.8 acres of the roughly 10-acre VEA campus |
| Residences | Approved for up to 159; later reports cite about 109 to 111, meaning fewer, larger homes |
| Floors | Residences on levels 2 through 22, with larger homes and penthouses on upper floors; every residence has a balcony |
| Hotel rooms | None in the tower; it is entirely residential |
| Indoor amenities | About 32,000 sq ft: resort-style pool and spa, gym, locker rooms, spa treatment rooms, meeting rooms, billiards and library room, private dining and food service, Ritz-Carlton concierge |
| Outdoor amenities | Private garden, event lawn, walking paths to Newport Center Drive and VEA, dog relief area |
| Parking | Five-level underground garage with 408 spaces, plus valet |
| Views | Fashion Island, Newport Beach Country Club, Newport Harbor, the Pacific, and Catalina on clear days from upper floors |
| Schools (per listing sites) | Newport Coast Elementary, Ensign Intermediate, Newport Harbor High |
The design by MVE Partners draws on the California Post Modern tradition William Pereira set when he designed Fashion Island in the 1960s, with nautical forms, yacht-inspired detailing, and generous indoor/outdoor living suited to the coast.
The Policy That Made It Possible: K-4 and the Housing Element
The Ritz-Carlton Residences would not exist without Council Policy K-4, adopted in March 2021 to create a path for converting hotel rooms to residences. It was the first project in the city to use the policy. The city then wrote the idea into its state-certified Housing Element as Policy Action 4I, Establish Mixed-Use Resort Opportunities, which describes hotel-branded residences as a way to revitalize older hotels, add hotel tax revenue, and add infill housing in built-out areas.
| Housing Element Policy Action 4I Requirement | How the Ritz-Carlton Residences Fit |
|---|---|
| Convert up to 30% of permitted hotel rooms to residences, one-for-one | About 30% of the original 532 rooms (up to 159) converted to residences |
| Hotel must stay; residences rely on hotel services | VEA remains open as a Marriott resort; residents get Ritz-Carlton services on the shared campus |
| Shared or reduced parking to avoid extra parking demand | New 408-space underground garage for residents |
| Fiscal impact analysis for any loss of hotel tax | 2022 consultant report projected about $3.3 million in first-year hotel tax, rising to nearly $6 million by 2041 |
| Affordable housing mitigation through units or in-lieu fees | $100,000 per residence, $65,000 of it for affordable housing |
| Development agreement required | Approved through a Coastal Development Permit, Use Permit, Vesting Map, and Site Development Review; Policy 4I calls for a development agreement for future conversions |
Newport Beach must plan for 4,845 new homes in the 2021-2029 cycle, one of the largest mandates in Orange County. Hotel conversions are a small piece; the larger strategy is rezoning, including a housing overlay across about 163 acres of Newport Center that allows at least 2,439 homes at an average of 50 per acre. See our Newport Beach housing plan post and Big Newport Towers post for more.
| Newport Beach RHNA (2021-2029) | Homes |
|---|---|
| Very low income | 1,456 |
| Low income | 930 |
| Moderate income | 1,050 |
| Above moderate income | 1,409 |
| Total | 4,845 |
The Affordable Housing Payment and Why SPON Said Yes
| Fee Under K-4 | Per Residence | At 159 Residences | At About 109 Residences |
|---|---|---|---|
| Total payment to the city | $100,000 | $15.9 million | About $10.9 million |
| Share for affordable housing | $65,000 | About $10.35 million | About $7.09 million |
Still Protecting Our Newport (SPON), a residents' group that has often opposed large developments, endorsed the project. Its leaders, Jean Watt, Charles Klobe, and Nancy Scarbrough, worked with Eagle Four's Kory Kramer and Lyon Living's Peter Zak to direct the affordable housing money to a dedicated, locally focused fund rather than the general fund. Councilmember Joy Brenner helped build support, and then-Visit Newport Beach CEO Gary Sherwin said the deal showed "that even in this polarized era, good things can still get done."
The Team: Eagle Four Partners and Lyon Living
| Firm | Role | Background |
|---|---|---|
| Eagle Four Partners | Hotel owner and co-developer | Newport Beach investment and development firm founded by Kevin Martin and Todd Pickup, focused on hospitality and mixed-use; Kory Kramer has led development and community relations |
| Lyon Living | Residential co-developer | Irvine-based residential developer with a long Orange County track record in luxury and mixed-use housing; Peter Zak has led the residential side |
| MVE Partners | Architect | Irvine-based firm with a long portfolio of high-rise residential and mixed-use projects |
VEA's general manager, Debbie Snavely, a longtime leader at the property and a former Newport Beach Citizen of the Year, oversees the hotel campus.
What Will the Residences Cost?
No pricing has been released. Ritz-Carlton branded residences in other U.S. markets give a useful frame:
| Residence Type | Estimated Range (Market-Based) |
|---|---|
| Smaller residences | About $3 million and up |
| Larger residences | About $6 million to $10 million |
| Penthouse-level homes | $15 million or more |
| Estimated total sellout (about 109 residences) | About $500 million to $750 million or more |
These are our market-based estimates, not developer pricing. The developers have not released floor plans, a unit mix, or price guidance.
Branded residences typically launch sales before or early in construction, with deposits and phased releases, and the best floor plans and views go first. Being on lists before the sales gallery opens matters. Browse Newport Beach condos for sale or new construction homes in Newport Beach to compare what is available now.
We will email you when pricing, floor plans, or a sales gallery is announced, and when construction milestones happen.
Email Eric to join the update list or call/text 949-430-7500
Tax Impact on Newport Beach
The $216 million purchase in 2020 reset the hotel's assessed value under Proposition 13. When the residences sell, each condominium will be assessed at its sale price, adding new residential property tax on top of the hotel.
| Estimate (at about $6 million average across 109 residences) | Amount |
|---|---|
| New residential assessed value | About $654 million |
| Annual property tax at about 1.1% | About $7.2 million |
| Newport Beach's share (about 16 to 17 cents per dollar) | About $1.2 million per year |
| Hotel's existing city property tax share | About $370,000 to $400,000 per year |
| One-time K-4 payments to the city | About $10.9 million to $15.9 million |
No formal fiscal analysis of the residences has been released; these are our estimates.
Frequently Asked Questions
Where will the Ritz-Carlton Residences be located in Newport Beach?
At 900 Newport Center Drive, on the campus of VEA Newport Beach, a Marriott Resort and Spa (formerly the Newport Beach Marriott Hotel and Spa), across Newport Center Drive from the Newport Beach Country Club. An older hotel wing is being removed to make room for the new 22-story residential tower.
Who are the developers?
Eagle Four Partners, led by Kevin Martin and Todd Pickup, and Lyon Living. The two firms bought the Newport Beach Marriott from Host Hotels and Resorts in late 2020 for $216 million, reopened it as VEA in 2022, and won approval for the residential tower in May 2022. The residences are offered by Newport Center Residences, LLC under a license from Ritz-Carlton.
How much will the Ritz-Carlton Residences cost?
No pricing has been released as of October 2026. Ritz-Carlton branded residences in other major U.S. markets have ranged from roughly $3 million to $15 million or more, and Newport Beach pricing is expected to be at the upper end. These are market estimates only.
Has construction started?
Not fully. Demolition of the older hotel wing began in early 2023, and the city lists the parking structure and rough grading plans in plan check. As of 2026 the project was still described as expected to break ground soon, and the earlier 2026 completion target has passed. A realistic completion is now 2028 or later.
How can I get on the interest list?
Join our update list by email, and we will let you know as soon as pricing, floor plans, or a sales gallery opening is announced.
Why did SPON support the project?
Still Protecting Our Newport (SPON) endorsed the project because the developers agreed to pay the city $100,000 per residence, with $65,000 of each payment directed to affordable housing through a dedicated fund.
Watching the Ritz-Carlton Residences or the Newport Beach Market?
The Ritz-Carlton Residences are one of more than a dozen residential projects reshaping Newport Center. Join our update list for pricing and sales news, or contact us to talk about how these developments affect values and inventory, or about buying or selling in Newport Beach now.
Call or text Eric at 949-430-7500 | Schedule a free 15-minute strategy call
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