This is Oppidan’s fourth senior living community in California and 12th senior living development across the country
Santa Cruz, Calif. – (JULY 9, 2025) – Oppidan Investment Company, a national property development firm headquartered in Excelsior, Minn., broke ground on Ananta Senior Living Community, a 75,000 square foot senior living community located at 102 Pelton Avenue, Santa Cruz, Calif.
This is the 12th senior living community developed by Oppidan across the country and its fourth in California, including The Watermark at Napa Valley, The Hacienda Mission San Luis Rey in Oceanside and Clearwater Newport Beach.
Calson Management, a second-generation, family-owned company, will serve as the management company for Ananta Senior Living. Calson Management operates eight properties across California and this is the first time Oppidan has partnered with Calson Management.
Ananta Senior Living Community will offer 76 apartments with assisted living and memory care options. Residents will have the choice of studio, one bedroom and two bedroom apartments. Amenities include several outdoor courtyards, a theater, dining room with pizza oven, living room and gelato bar, salon, wellness center, and multiple lounge spaces with soothing Mediterranean-inspired decore. Several apartments and community spaces will have ocean views.
“We’re proud to continue our tradition of partnering with faith-based communities through this new senior living development next to the Shrine of St. Joseph Catholic Church,” said Shannon Rusk, Senior Vice President of Development at Oppidan. “With walkable access to the church, Shrine Coffee, and the stunning coastal trails of Lighthouse Fields State Beach, this community offers a unique blend of spiritual connection, neighborhood charm, and natural beauty, making it an ideal setting for vibrant senior living in the heart of Santa Cruz.”
Construction is expected to be completed in late 2026. Ananta Senior Living will begin accepting residents in early 2027. W.E. O’Neil is the general contractor for this project and Mar-Gulf Management Inc. (“Mar-Gulf”) and MDI Capital, LLC (“MDI”), the international real estate subsidiaries of Kuwait Financial Centre (“Markaz”), are the equity partners.
Since 1991, Oppidan has built a national reputation for its work in senior housing, industrial, warehouse, mixed-use developments, and more recently, data center development.
For more information, visit: Oppidan.com
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About Oppidan
Since 1991, Oppidan Investment Company has grown into a nationally recognized real estate development company, successfully developing more than 600 projects valued in excess of $5.3 billion and spanning 31.4 million square feet throughout 43 states and parts of Canada. Oppidan provides development, construction management, property management, asset management, and capital markets services to the senior living, industrial, data center, mixed-use, multi-family, affordable, and retail markets. Headquartered in Excelsior, MN, with regional offices in Raleigh, NC, and San Jose, CA, Oppidan’s client list includes Duluth Trading Company, Northern Tool, Cub Foods, Target, Sprouts, Ebenezer Management Services, Watermark Retirement Communities, General Electric, Tennant, LCG, Rockpoint, HSRE, Kayne Anderson, IPI, and Bailard. Oppidan is a four-year recipient of the Best Places to Work by Minneapolis/St. Paul Business Journal. To learn more about Oppidan, visit www.oppidan.com.
About Kuwait Financial Centre “Markaz”
Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.44 billion (USD 4.67 billion) as of 31 March 2025. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors’ horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz.