Developer reveals plans for its first apartment project in Santa Cruz

Apartment developer and owner Anton DevCo has disclosed plans for a new apartment complex in downtown Santa Cruz that is slated to break ground early next year.

Developer: Anton DevCo, which has offices in Walnut Creek and Sacramento. The company has developed more than 60 apartment complexes and more than 9,000 multifamily units in California, according to a July 28 news release.

Project address: The intersection of Pacific Avenue and Laurel Street in downtown Santa Cruz, which is within walking distance of numerous retailers and restaurants, and about a half-mile from the Santa Cruz Beach Boardwalk. An Anton DevCo spokesperson said Thursday that the apartment complex project does not have a formal address yet.

Project description: A seven-story building with two levels of parking that would offer 48 studio units, 98 one-bedroom units and 59 two-bedroom units, as well as 11,000 square feet of ground-floor retail space. The project’s retail space will include adjacent outdoor patio areas to allow for sidewalk dining, while residents would have access to a rooftop deck if the complex is completed.

“We’re excited about our first apartment community in Santa Cruz, and the opportunity to showcase what we have to offer the city and our residents,” Trisha Malone, managing partner and chief investment officer at Anton Devco, said in a July 28 news release.

An Anton spokesman said Thursday that the development, which does not have a name yet, is fully entitled and that the company is planning to apply for a building permit by the end of September. Construction of the complex is expected to begin in the first quarter of 2021, with first move-ins slated for 2023.

Why it’s notable: The apartment project is Anton DevCo’s first in Santa Cruz, and because it is located within a Qualified Opportunity Zone — designated economically distressed census tracts — it is also the firm’s first Opportunity Zone development.

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