Costco Plans to Build 800-Unit Apartment Building to Combat Housing Crisis

(AmericanProsperity.com) – Costco, the big box retailer, is looking to develop a mixed-use apartment complex with eight hundred units in order to combat the housing crisis.

The company is opening a store in South Los Angeles while teaming up with developers from Thrive Living and Architects AO to build the apartment complex, which would have almost two hundred units specifically for affordable housing. Costco announced the project early last year and said it was to be built in Baldwin Village, but a Thrive representative said that they are awaiting permits and are unsure of when construction will officially start.

Housing activist Joe Cohen said, “The planning and land use system in California and in LA is a Rube Goldberg machine and this project is seeing that machine laid bare.”

The complex will reside on land that used to house a hospital, and it will include a gym, multi-purpose spaces, gardens, landscaping, a rooftop pool, and a large parking lot to accommodate the residents. Cohen said that it’s “a bunch of small units along these long hallways, with a massive recreation center as an amenity space.” He continued, “From a plain view, it looks like an old-school prison design.”

Cohen speculated that Costco made this housing development simply to have a storefront without having to deal with the Los Angeles costs of a storefront. He continued to say that the building must have two-thirds allocated to housing in order for Cotsco to have a quicker and cheaper building process.

The outside view of it has been compared to a prison, which could be due to the need for a quick build. They have brought pre-manufactured apartment modules into the area that can be taken off of trucks onto the lot.

Said a member of Thrive Living, Jordan Brill, “Mayor Bass has declared a housing emergency in Los Angeles, and we’re answering the call. Our company is focused on addressing the severe housing affordability crisis in Los Angeles, while also attracting retailers willing to make long-term commitments.”

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