Water Street Strip Shopping Center Santa Cruz, California Water Street Center is located in Santa Cruz, California. Santa Cruz, just 74 miles south of San Francisco, is a popular tourist destination and home to University of California, Santa Cruz. The Water Street property is a small shopping center consisting of two retail buildings that share a common parking lot. The buildings house local businesses including a yogurt shop, restaurant, and hair salon. The center also includes an H&R Block office in the tenant mix.