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3/15/21
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Anton DevCo acquired a 1.44-acre development site in downtown Santa Cruz. The sale consisted of multiple parcels located at Laurel St and Pacific Ave. Anton DevCo recently commenced construction at the site on a new 205-unit mixed-use luxury apartment community known as Anton Pacific.
Anton Pacific will be a seven-story, mixed-use building featuring 205 residential apartments and 11k sf of ground floor retail space. The new luxury building will consist of 48 studios, 98 one-bedroom and 59 two-bedroom apartment units.
The project will also include a rooftop deck, spa, a state-of-the-art fitness center, fire pits and more. The rooftop deck will feature fireside seating, dining areas and barbecue grills. A 1.3k sf 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.
Anton Pacific is walkable to downtown amenities, the Beach Boardwalk and Santa Cruz Wharf, and less than three miles from the University of California, Santa Cruz campus.
Jason Parr and Scott MacDonald with 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, 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.”
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