Description

Rare development opportunity at 1024 Soquel Ave, in Santa Cruz's red-hot Eastside, convenient to anchors SC Athletic Club, Whole Foods, Shopper's Corner and Staff of Life, alongside popular food and entertainment venues that include The Rio Theater, Lillian's, The Crepe Place, Sante Adairius Brewery and much more. Located directly across the street from the large Public Parking Lot where the City also hosts the weekly Summer live entertainment and food truck events of Midtown Fridays. This +/-0.27-acre corner parcel is a high-density mixed-use site located within a federal Opportunity Zone. Boasting a 94/100 Walk Score, the property is zoned MU-H, supporting multifamily residential and active ground-floor commercial uses. Per AB 2097, parking requirements can be significantly reduced or removed. While the base density is 55 DU/Acre, a city-vetted concept for 76-80 residential units has been reviewed, utilizing the State Density Bonus Law and small-unit exemptions where studios/1BRs do not count against density limits. Physical parameters include a 2.75 base FAR and by-right heights up to 5 stories, with 0 ft front and side setbacks. This establishes a documented ceiling for high-yield urban infill. Buyer to verify all development and zoning info independently.