Builder/developer Anton DevCo has acquired a 1.44-acre development site in downtown Santa Cruz as a land assembly to build a new 205-unit apartment community. The purchase price and development cost has not been disclosed.
Broker Cushman & Wakefield said it represented the developer in obtaining “multiple parcels located at Laurel Street and Pacific Avenue” for the Anton Pacific project.
“The acquisition of this site offered a rare development opportunity along the California Central Coast,” C&W executive director Jason Parr said in a March 10 statement. “Santa Cruz offers a desired coastal location proximate to tech communities including Silicon Valley and the Bay Area, and which 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.”
Anton DevCo is building a seven-story mixed-use building with 205 apartments and 11,000 sq. ft. of ground floor retail space. The new building will have 48 studios, 98 one-bedroom and 59 two-bedroom apartments.
Anton Pacific will also include a rooftop deck, spa, fitness center, fire pits and more. The rooftop deck will feature fireside seating, dining areas and barbecue grills. A 1,300-sq. ft. indoor lounge with kitchen and bar are attached to the rooftop deck with views of the Pacific Ocean and the Santa Cruz Beach Boardwalk’s famous Giant Dipper Roller Coaster.