A real estate company is proposing to build the first Costco in South Los Angeles, except this shopping center comes with a unique addition: 800 apartment units built on top of it.
Thrive Living, the real estate company, wants to build a mixed-used complex in a five-acre commercial lot near the intersections of La Brea Avenue and Coliseum Street, a news release said.
About 23%, or 184, of the 800 apartments will be set aside for low-income households. According to a news release, the units will be eligible for residents with Section 8 vouchers.
“Mayor Bass has declared a housing emergency in Los Angeles, and we’re answering the call,” Jordan Brill of Thrive Living said in a statement.
“Our company is focused on addressing the severe housing affordability crisis in Los Angeles while also attracting retailers willing to make long-term commitments and deliver community-serving products and services that enrich the living experience for our residents and neighbors.”
The new Costco, visioned to be the anchor for the 800 apartment units, will have optical and delivery services, a pharmacy, and offer residents healthy food options, including fresh produce.
The new layout will be different from other Costco stores that are typically housed in warehouses.
“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 and all of the other services Costco provides,” said Brenda Ashby, an executive committee member of the Crenshaw Manor Community Association.
Costco estimates that 400 new jobs will be created should the plans proceed. Thrive and Costco will also plan to hire local residents and offer a job training program for the open positions.
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