A groundbreaking project in South Los Angeles will soon introduce the first-ever Costco location paired with residential apartments. On September 18, the city launched construction on this innovative Costco, which will not only include its typical warehouse but also feature hundreds of apartment units in the Baldwin Village area.
The new development will have 800 rental apartments situated in low-rise buildings above the retail space. Of these units, 184, or 23%, will be reserved for low-income families, according to Thrive Living, the development company behind the project.
The Costco store will offer a variety of services beyond the usual retail offerings, including optical services, a pharmacy, and delivery options.
“This is truly a game changer for us and a huge investment in the community. We are excited to have quality groceries close to home, in addition to all of the other services Costco provides,” said Brenda Ashby, an executive committee member of the Crenshaw Manor Community Association, in a statement to NBC Los Angeles.
The development will be located at 5035 Coliseum, a site that was once home to View Park Community Hospital. This project is the first housing initiative in Los Angeles to move forward under California’s AB 2011 law, passed in 2022. This legislation streamlines the approval process for mixed-use developments that incorporate affordable housing.
The new Costco will also be the first to open in South Los Angeles, and the project is expected to generate 400 new jobs for local residents.
Thrive Living has announced plans to employ “a cost-effective and innovative modular design that enables the delivery of high-quality housing at below market rates” to construct the apartment complex.
The project is set to include amenities such as secure parking, multiple interior courtyards, a gym, community gardens, a rooftop pool, a full basketball court, two half basketball courts, and various climbing structures and play areas, according to Thrive Living’s website.
{Matzav.com}