High Density Development Parcel
Land | 0.27 acres
Marketing 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.
Investment highlights
ALLOWED USE
Multifamily residential. Mixed-use with active ground-floor commercial.
Retail, restaurant, office, medical, personal services, gallery, etc.
BUILDING HEIGHT (BY-RIGHT)
Up to 5 stories / ~55 ft for mixed‑use + higher height allowable with density bonus.
STEPBACKS
Front: 0 ft (urban build‑to)
Side (interior): 0 ft
Street side: ~10 ft
Rear: ~20 ft
Key Physical Control — Floor Area Ratio (FAR):
Base FAR: 2.75
Studios and 1 bd do not count against density in MU-HD.
Lot Size: ~11,900–12,000 SF
Maximum Buildable Area at FAR before Density Bonus: ≈ 32,700 gross square feet (GSF).
While the 55 DU/acre scenario represents the base General Plan density, the highest and best use of this parcel is achieved through State Density Bonus Law, which can substantially increase unit count beyond local caps.
Why the Site Can Achieve 70–80 Units :
The 55 DU/acre cap does not apply to small units.
Under City Objective Standards, the density limit applies only to 2+ bedroom units, while:
Studios
1-bedroom units
SRO / flexible-density units.
Are not subject to a numerical density cap.
State Density Bonus removes or relaxes local constraints.
When affordability thresholds are met, developers may receive:
Height waivers
Setback waivers
FAR waivers (if needed)
This enables mid-rise massing at maximum efficiency, aligning with Workbench’s 76–80 unit concept.
Buyers can underwrite multiple strategies from conservative to high-yield urban infill.
The City has already reviewed a 76–80 unit concept, proving feasibility for large-scale development.
Strong alignment with city’s desire to develop density along Soquel Ave corridor and along with State housing mandates, approvals can be close to as of right.
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