West Coast apartment developer-owner-manager Anton DevCo recently acquired a 1.44-acre development site in downtown Santa Cruz. The sale consisted of multiple parcels located at Laurel Street and Pacific Avenue. Anton DevCo recently commenced construction on the site for a mixed-use multifamily community known as Anton Pacific.

“Anton Pacific exemplifies Anton’s optimism in developing such a significant project during the pandemic and as the company helps fill demand for housing on the coast,” said Scott MacDonald of Cushman & Wakefield.

Anton DevCo is constructing a seven-story building featuring 205 residential apartments and 11,000 square feet of ground-floor retail space. The new building will consist of 48 studios, 98 one-bedroom and 59 two-bedroom apartment units. Anton Pacific will also include a rooftop deck with views of the Pacific Ocean and the Santa Cruz Beach Boardwalk’s famous Giant Dipper Roller Coaster.

Jason Parr and MacDonald of Cushman & Wakefield represented the buyer in the transaction.

“The acquisition of this site offered a rare development opportunity along the California Central Coast,” said Parr. “Santa Cruz offers a desired coastal location proximate to tech communities including Silicon Valley and the Bay Area, where housing has become increasingly appealing due to the pandemic and the trend for work-from-home. We also anticipate strong apartment rent growth this year.”