Market site could become parking

The shuttered site of the old Balboa Village Market, with its vivid mural depicting scenes from peninsula life, could be demolished for parking if the city decides to purchase the property.

Newport Beach officials are considering buying the site from real estate investor Leo Gugasian, who also owns the Balboa Pavilion and the Catalina Flyer ferry, said Newport Beach Assistant City Manager Sharon Wood.

A recent parking study the city conducted found there is a dearth of parking in the Balboa Village area. One idea being tossed around is to use the old market for more parking, Wood said.

It’s “possible” the market and the mural would be bulldozed if the city buys the property, she said.

Gugasian, who bought the old market as a real estate investment three years ago, said turning the building into a parking lot would be a boon for shops and restaurants in Balboa Village. Several businesses in the area have floundered in recent years.

“There’s no traffic down there whatsoever — there’s no parking,” Gugasian said. “The city has to create more parking down there to revitalize that area. What’s more important, people surviving in this economy or the mural?”

Once a Safeway grocery store, the old brick market building at 608 E. Balboa Blvd. has been a fixture on the peninsula since 1938. The market has been closed since 2006. The last of a string of owners shuttered the place, citing competition from larger chains, problems with credit cards after a wine scam and the peninsula’s changing population as reasons for closing.

The 2,140-square-foot mural on the side of the market building includes scenes of a surfer catching a giant wave intermingled with sunbathers and pelicans.

Newport Beach landmarks like the Balboa Pavilion and the Fun Zone also are part of the scene, which was dedicated July 1, 1995, according to a plaque on the wall. Painted by artist Donald MacDonald, the mural was sponsored by the Balboa Merchants Assn.

The Newport Beach City Council is slated to discuss purchasing the property in closed session at its Tuesday meeting, but the issue could be postponed while city staff does more research on the matter, Wood said.