What Newport Beach's New High-Rises Mean for Residents Who Want to Downsize

Photo: Ariel Blanco / Unsplash

Can you downsize without leaving Newport Beach? Yes, and soon with more choices. The Ritz-Carlton Residences and Related California's twin towers at the old Big Newport theater will add about 300 luxury, single-level condos near Fashion Island, built for owners who want less upkeep but want to stay.

If you have lived in Newport Beach or Corona del Mar for 20, 30, or 40 years, you know the conversation. The house is bigger than you need. The stairs, the yard, and the upkeep are more work every year. But your friends, your doctors, your church, your favorite restaurants, and the harbor are all here. Leaving Newport Beach feels like the price of downsizing.

For a long time, the local choices were limited: an older condo, a smaller house that still needs the same care, or a move out of the area. In Part 1 and Part 2 of our Skyline Watch series, I covered the new towers coming to Newport Center and what they mean for the city. This post is for one group in particular: long-time residents who want to downsize and stay. For you, these towers are a genuinely new option, and the people who plan ahead will have the best shot at them.

Two New Ways to Downsize Without Leaving

Two high-rise condo projects are moving forward in Newport Center, a few minutes from Fashion Island, Hoag, the harbor, and Corona del Mar. Both are for-sale homes, not rentals.

Sources: Ritz-Carlton Residences project details (CEQA filing), OCBJ on the Ritz-Carlton tower, OCBJ on the Related towers, OCBJ on the council vote.

The Ritz-Carlton Residences

This is the branded, hotel-style option. Owners get Ritz-Carlton service in their own building, with the renovated VEA Newport Beach resort next door. For someone who wants to hand off nearly everything, from packages to housekeeping, this is as close to full service as Orange County has offered. You can see the official renderings here.

The twin towers at Big Newport

This is the larger-home option. With up to 6,400 square feet, some of these condos are bigger than the houses many people are downsizing from, just on one level and without the yard. If you want room for family visits, a home office, or a full art and furniture collection, this project is worth watching. The Big Newport theater is expected to close no later than June 30, 2027, before demolition begins, so homes here are further out than the Ritz-Carlton.

Why These Towers Fit a Long-Time Newport Beach Downsizer

Most downsizing advice assumes you are willing to give something up: space, location, or quality. These buildings are designed so you don't have to.

• You stay in your community. Same friends, same doctors, same restaurants, same harbor. Newport Center is minutes from Corona del Mar, Balboa Island, and the Peninsula.
• Single-level living. No stairs, an elevator to your floor, and space planned for how you live now.
• Lock-and-leave. Travel for a month, visit the grandkids, or spend winter somewhere warm. A staffed building looks after things while you're gone.
• Less to manage. No roof, no gutters, no landscaper, no pool service. Exterior maintenance and common areas are handled by the association.
• You don't have to shrink your lifestyle. With homes ranging up to 6,400 square feet in the Related towers, you can keep the dining table, the art, and room for guests.
• Walkable living. Fashion Island's restaurants, shops, and services are right there, which matters more every year.

The trade-offs are real too. You'll pay monthly HOA dues for that service, you'll give up a private yard, and these homes won't be ready for a few years. That timing is exactly why planning now matters.

How to Get on the List

With only about 300 homes across both projects, the best units, especially the higher floors with ocean and harbor views, are likely to be spoken for early. Here is how to put yourself in position.

1. Join the Ritz-Carlton interest list now. The project has an interest form on its official site. Getting on it early means you hear about pricing, floor plans, and release dates before the general public.
2. Watch for the Big Newport towers to open sales. Related California hasn't launched a sales site yet. When it does, early registrants will likely get the first look.
3. Bring your agent in from the first contact. Many new developments only work with a buyer's agent who is registered with you from your very first visit or inquiry. If you sign up on your own first, you may lose the option of having someone represent you later.
4. Know your numbers before releases open. Pre-construction sales can move quickly. Knowing what your current home will net and how much you want to spend lets you act when the right unit comes up.

How Vida and I can help

If you have lived in Newport Beach most of your life and this sounds like your next chapter, we'll do the legwork with you. We can register you with both projects, track pricing and release dates as they're announced, and let you know as soon as something fits what you're looking for. In the meantime, we can help you plan the sale of your current home so the timing works, which is often the hardest part.

Why Acting Early Matters: You Won't Be the Only Buyer

Local downsizers won't have these buildings to themselves. Branded, lock-and-leave residences draw second-home and international buyers who already own property elsewhere and want a turnkey place in Southern California.

That demand is growing fast. Knight Frank's 2026-27 Residence Report counted nearly 1,800 branded residence projects worldwide, live and in the pipeline, and found that the United States produced 41% of the world's new ultra-high-net-worth individuals over the past 5 years. A Ritz-Carlton address overlooking Fashion Island is exactly the kind of home those buyers look for.

For you, the takeaway is simple: with about 300 homes across both projects, you'll be competing with buyers from well beyond Newport Beach. The local resident who is already registered, knows their budget, and has a plan for their current home is in the strongest position.

The Money Side: Plan It Before You Fall in Love With a Floor Plan

This is where my CPA background comes in, and where most of the real decisions are made. Buying a home that won't be finished for a few years while you still own your house takes a plan.

Timing the sale of your current home

You may be committing to a tower years before you can move in. You'll want to decide whether to sell first and rent in between, keep your house until the new home is complete, or tap your equity to cover deposits. Each choice affects your cash flow, your taxes, and your stress level. If keeping your large home a few more years is part of the plan, our post on the real annual cost of a big house versus a condo in Newport Beach shows what that costs each year.

Prop 19 and the two-year window

If you are 55 or older, Prop 19 can let you carry your low property tax base to your new home. But the replacement home must be purchased or newly constructed within 2 years of selling your original home, according to the California State Board of Equalization. With a tower that won't be finished for a few years, that window can close before your new home is complete if you sell too early. If the new home costs more than your current one, part of the difference is added to your taxable value. Your county Assessor has the final word on how the window applies to new construction, so map this out before you list. Our Prop 19 guide covers who qualifies.

Capital gains on a long-held home

The federal exclusion is up to $250,000 of gain, or $500,000 for a married couple. Many long-time Newport Beach owners have gains well above that. Knowing your number ahead of time tells you how much you'll actually have to put toward your next home. Our post on capital gains tax when selling a California home walks through the math.

HOA dues in a full-service tower

Concierge, valet, security, and hotel-level service come with monthly dues. A brand-new building also has no budget history, so ask for the proposed budget, the reserve plan, and what the dues include before you commit. Compare that number to what you spend today on maintenance, insurance, landscaping, and repairs.

This section is general education, not tax, legal, or financial advice. Confirm your situation with your CPA or tax advisor.

Frequently Asked Questions

Can I downsize without leaving Newport Beach?

Yes. The Ritz-Carlton Residences and Related California's twin towers at the Big Newport site will add about 300 single-level, full-service condos in Newport Center, a few minutes from Corona del Mar, the harbor, and Fashion Island.

How do I get on the waiting list for the Ritz-Carlton Residences?

The project has an interest list on its official website. Join it early, and bring your agent in from your first inquiry so they can represent you when sales open.

When will the Big Newport towers be available?

Related California hasn't opened sales or published a completion date. The Big Newport theater is expected to close no later than June 30, 2027, before demolition begins.

How big are the condos in the new towers?

The Related towers will offer 2 to 4 bedrooms, roughly 2,100 to 6,400 square feet, plus penthouses. The Ritz-Carlton Residences will have about 159 homes, with the larger ones on the upper floors.

Can I use Prop 19 to move into one of these towers?

Possibly, if you are 55 or older. The replacement home generally must be purchased or newly constructed within 2 years of selling your current home, so timing your sale against the tower's completion is critical. Check with the county Assessor and your tax advisor.

Should I sell my house before buying in a new tower?

It depends on your timeline, your equity, your taxes, and the developer's deposit schedule. Many owners keep their home until the new one is close to finished, but there is no one right answer. Run the numbers before you commit.

Ready to Plan Your Next Chapter in Newport Beach?

If you've called Newport Beach home for most of your life, you shouldn't have to leave it to live more simply. Vida and I would be glad to get you registered for both towers, keep you updated as pricing and releases are announced, and build a plan for selling your current home that works with your taxes and your timeline. Schedule a complimentary consultation with Dar Mardan, REALTOR® with REAL Broker, serving Newport Beach, Corona del Mar, and coastal Orange County. For a broader look at timing and logistics, see our Newport Beach downsizing guide.

Sources

• The Ritz-Carlton Residences, Newport Beach: official site and renderings; interest list
• California CEQA database: Ritz-Carlton Residences Project
• Orange County Business Journal: Putting Up The Ritz; NB Approves Related's Condo Towers; Related Clears Huge Hurdle for NB High Rise Towers
• California State Board of Equalization: Proposition 19
• Knight Frank: The Residence Report 2026-27