A senior housing project is planned at the former Gateway School near Pelton Avenue and West Cliff Drive in Santa Cruz. (Oppidan Investment Co.)

Last updated: March 15, 2022

Project name: Watermark at Santa Cruz senior housing project

Location: 126 Eucalyptus Ave., Santa Cruz. The former site of Gateway School. 

Status: The project will require public hearings at the Historic Preservation Commission and the Planning Commission. The hearing dates have not been set but city staff anticipates them in summer.

Developer: The developer is Oppidan Investment Co. It is a national property development firm headquartered in Minnesota with offices in California and North Carolina. The company focuses on senior housing, industrial and mixed-use developments, according to its website.

Project description

    • Total units: 76 senior housing units, including 13 full dwelling units with kitchens. 
    • Affordable units: The project is required to provide at least 20% of the full dwelling units as inclusionary, meaning affordable, units, city staff said. Project leaders expect to build two units affordable to “low-income” households based on area median income.
    • Height: The project would be two stories, or about 30 feet high.
    • Other details: Two former school buildings are expected to be demolished. Six heritage trees would be removed.

An artist’s rendering of senior housing complex at126 Eucalyptus Ave., Santa Cruz. (Oppidan Investment Co.)

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