11/07/2018

Anton DevCo moves headquarters to Ice Blocks from Bay Area

Apartment and multifamily housing developer Anton DevCo Inc. has moved its headquarters to the Ice Blocks development in midtown Sacramento.

Steve Eggert founded Anton DevCo in 2014 and was previously the co-founder of the development company St. Anton Partners. Over the last 23 years with the two companies, Eggert has helped develop 60 apartment communities with over 9,000 units. More than 40 of those communities are in the Sacramento region, including Anton Arcade in Sacramento and The Ridge Apartments in Elk Grove. Anton DevCo currently owns and operates about two dozen apartment communities.

The company has relocated its headquarters to Sacramento from Foster City, but will continue to operate a Bay Area office in Pleasanton.

“We’re focused on central city and its proximity. That’s where the real soul and energy is in Sacramento,” Eggert said in an interview with the Business Journal. “We’re not looking out in the suburbs.”

Antov DevCo will occupy about 5,000 square feet in the Ice Blocks development and the Sacramento headquarters will employ about 20 people. Antov DevCo will also have about 30 employees in the field in the Sacramento area, according to Eggert.

The Ice Blocks was named best mixed-use project in the Business Journal’s Best Real Estate Projects of 2018. Other office tenants at the mixed-use development include the Dudensing law firm, which occupies about 4,200 square feet. Retail and restaurant tenants include Beast & Bounty, Philz Coffee, Warby Parker and Title Boxing Club.

Anton DevCo’s recent projects in the Sacramento area include Sutter Green Apartments, a 248-unit complex near Garden Highway. Anton DevCo served as the general contractor on the project and is an ownership partner with real estate development group Demmon Partners. Anton DevCo has active projects in Mountain View, Oakland and Milpitas, and is currently looking for additional project opportunities in the Sacramento area.

“I think the city of Sacramento has done a great job defining what can and cannot be built on every street corner,” Eggert said. “There’s predictability. There’s a reasonable process to get a decision — either up or down.”

Eggert said that while the rise in construction costs in recent years has caused the company to focus primarily on market-rate housing, the company is interested in pursuing affordable housing projects in the Sacramento area.

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