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Santa Cruz Site Offers Rare Central Coast Development Opportunity

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.”

 

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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