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A new mixed-use complex in Los Angeles will feature a Costco and 800 apartments, with a focus on affordable and workforce housing. The development, led by Thrive Living, aims to streamline approvals for low-income housing and create up to 400 local jobs. Costco will offer fresh produce and amenities while contributing to the community through a local hire and job training program.
Tue October 01, 2024 - West Edition #20
A new Costco planned for Los Angeles will include something not typically found at the warehouse store: apartments, according to ABC7 .com.
Privately owned developer Thrive Living broke ground on Sept. 18 at a 5-acre site in the Baldwin Village neighborhood. The mixed-use complex will include a members-only warehouse store, as well as 800 apartment units above it, the website reported.
There will be 184 units set aside for low-income tenants, according to Thrive Living. The remainder will be offered as non-subsidized affordable and workforce housing.
"5035 Coliseum is the first new housing community in Los Angeles to move forward under state law AB 2011, which helps streamline approvals for apartment and mixed-use projects that include low-income housing," Thrive Living said in a press release.
According to its release, Thrive Living will use "a cost-effective and innovative modular design that enables the delivery of high-quality housing at below market rates'" to build the complex.
The developer said the project is the nation's first mixed-use development with Costco as its anchor retail tenant. Construction timelines weren't disclosed at the groundbreaking.
According to the Thrive website, the project will include secure parking, several interior courtyards, a gym, community gardens, a rooftop pool, a full basketball court and two half courts, and various climbing and play structures.
Thrive said the Costco will offer fresh produce, healthy food options, optical services, a pharmacy and delivery services to help local businesses.
Thrive and Costco "also plan to create a local hire and job training program for residents of Baldwin Village and neighboring communities. In all, Costco estimates that up to 400 new local jobs will be created," according to the Thrive press release.
For now, the nearest Costco is in Inglewood, a 20-minute drive to the south, according to KCAL News.