Driftwood Flats

Santa Cruz CA 95060

407 Pacific St

Recently Acquired

  • $105,000,000

  • CRP has entered into an agreement with a market-rate developer who will contribute the land value to the project before the construction loan closing, fulfilling the inclusionary housing requirements for another development they are undertaking in the same area.

    The proposed development is located within Santa Cruz’s planned Downtown Expansion Area, which is currently experiencing, and is expected to continue experiencing, significant commercial and residential redevelopment.

Aerial view of a large property outlined in red, showing a mix of buildings, parking lot with cars, and surrounding trees in a neighborhood.
Modern multi-story apartment building with retail shops at street level, surrounded by palm trees and people walking and biking on a city street under a blue sky with clouds.