- A new Los Angeles apartment building plans to have a Costco location on the ground floor.
- It’s an unusual setup for the big box retailer: its locations are usually in massive warehouses.
Costco plans to open its first location in South Los Angeles – and it will be on the bottom floor of an apartment building.
On Monday, Thrive Living, a New York-based developer, announced its plan for an 800-unit rental apartment unit anchored by a new Costco location.
It’s an unusual format for the big box retailer, which is known to sell products in bulk at reasonable prices; Costco normally houses its store locations in massive warehouse-like structures.
In a press release, the developer said that more than one-fifth of the units would be dedicated to low-income housing and would be made using a “cost-effective” prefab design.
The site of an abandoned hospital may turn into an 800-unit prefab apartment building with a pool, fitness center, and Costco on the ground floor.
The mixed-use building is planned to be located on the 5-acre sight of an old hospital, though the city of Los Angeles confirmed to Insider that the Thrive hadn’t submitted a full application for the property yet.
Thrive Living’s plans for the apartment include multiple outdoor courtyards, a rooftop pool, basketball courts, and a fitness area, according to commercial real estate and development news site Urbanize LA.
Thrive Living said it would partner with Costco to create a local hire and job training program for residents who live in the area.
Costco declined to provide a comment to Insider about any plans for a new store location in Los Angeles.
See renderings from Thrive Living on the mixed-use building:
Thrive Living
Source: businessinsider.com