This document analyzes the feasibility of a proposed multi-use live-work development called The Live Oak Development in Santa Cruz, California. It finds that Santa Cruz is well-suited for this type of development due to its educated workforce, emphasis on sustainability and green living, and large number of residents who commute to Silicon Valley for work. The specific Live Oak neighborhood is identified as an ideal location due to its amenities and proximity to beach and outdoor activities that would appeal to tech workers.

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Live Green
Work Green
The Live Oak Development
Market and Feasibility Joint Venture Study
Prepared by
Melanie Patton-Imani
Shapeshifter Development

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Table of Contents
Introduction
Best and Highest Use: Summary, Conclusions, and Recommendations
Location Location Location: At the Intersection of Work and Life
Project Overview
Demographics/Target Market Intersections
Green Consumer =
Transportation +
Technology +
Education +
Gender +
Apartment Rental Market Trends: Existing Competition
Outlook Apartments
Westmont Place Townhomes
Pacific Apartments
Hidden Creek Apartments
Cormorant Court Apartments
Swan Lake Gardens
Corinthian Townhomes
Walnut Commons
Artspace Tannery Lofts
NextSpace
The Live Oak Site Analysis

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Imagine waking up to the ocean breeze blowing through the window, picking up a scone and
some coffee at the bakery on the first floor of the building, and walking two blocks to the bike
trails along Schwan Lagoon, on your way to a morning at the beach. Perhaps after your walk,
you grab your laptop and join other Live Oak and Santa Cruz residents in the live-work space on
the first floor of the multi-use building. Rather than commuting to your job “over the hill” in
Silicon Valley, you join other tech workers, consultants, writers, artists, and independent
working people in the “collaborative community workspace.” When your family needs you they
come downstairs. When you need a break you walk to the beach and hit the waves or bike
along the coast. If it’s a Sunday you might walk the two blocks to the year-round Live Oak
Farmer’s Market and pick up some locally grown organic fruits and veggies, while you listen to
live music and check out the local art scene. You might take your family to the boardwalk for a
few rides, walk down the 100 year old wharf, watch the sea lions, and have a gelato while you
watch the sun set on the western horizon. This is living green and working green in Live Oak.
Like the Coast Live Oak trees that give the community its name, this “acorn”—this development
vision--will grow into a solid and lasting contributor to the Live Oak, Santa Cruz community, as
the city revitalizes coastal business development, works to expand technology business
ventures, and manifests the community’s vision of green, sustainable multi-use development.
Introduction

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Santa Cruz sits at the edge of the western horizon, where ancient-redwood-forested
mountains meet the ocean, technological innovation meets progressive community values,
and free-thinking people integrate meaningful work with conscious green living. While
Santa Cruz caps the northern edge of Monterey Bay, it’s location “over the hill” from
Silicon Valley defines it functionally as the southern edge of the San Francisco Bay area.
Oakland, San Jose and San Francisco are 8, 3 and 2, respectively, on Kiplinger’s list of the
top ten most expensive places to live. Santa Cruz has always been a unique blend of college
town, summer resort town, and laid-back Northern California beach community, but an
increased demand for affordable housing for those working in Silicon Valley has pushed
tech workers toward Santa Cruz and Live Oak with the added enticements of beach culture
and community. Live Oak is a 3.2 square mile census-designated place (CDP) in Santa Cruz
County. While there is no official downtown area, there are a number of businesses along
17th Ave including several schools, the Santa Cruz Live Oak Grange Hall, the Fire
Department, a Santa Cruz County Sheriff's Department, the Family Swim Center, and the
majority of Live Oak's business establishments.

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Best and Highest Use:
Summary, Conclusions, and Recommendations
Santa Cruz has a population of 60,000.
University of California, Santa Cruz is the largest employer.
Educated workforce = “green” consumers who value “healthy” lifestyles
Quality of life is the reason most cited for why people live in Santa Cruz.
An estimated 20-40,000 SC workers commute to Silicon Valley.
Commuting has its costs: gas consumption, time loss, wear and tear on roads
and cars, accidents, and pollution, among others.
The City of Santa Cruz is increasing support for tech companies as part of its
revitalization efforts surrounding the 100 year anniversary of the wharf.
Santa Cruz is considered the birthplace of sustainable, “green” architecture, and
city planning supports these community commitments.
The live-work model embodies the values of Northern California “techie
culture” that Santa Cruz seeks to foster.
Live Oak, an independent census track within Santa Cruz, provides ALL the
amenities necessary for a multi-use live-work development: beach, community
center with pool, tennis, basketball, bike trails, a coffee house, fitness center,
and restaurants.
Two strip malls across the street provide added opportunity for tech expansion.
Vacancy rates. , sf…