Costco building 800 apartments with rooftop pool alongside new store as chain invades real estate for the first time

COSTCO has announced innovative plans to create its own apartment complex for the first time.

The discount chain will try to enter the Los Angeles market to offer people an alternative in the housing crisis.

two

This will be a new product launch for the retailer that is known for its bulk groceries and cheaper fuel.

Those plans included a new store in South Los Angeles that would feature 800 connected apartments.

The wholesaler planned to make 184 of those units affordable housing options.

These will be reserved for low-income people.

This community, in the Baldwin Village area of ​​the city, will be a massive combined retail and housing space.

Costco drafted these plans along with the developer’s company, Thrive Living, and AO Architects.

The space would also include a gym, rooftop pool and gardens.

Housing activist Joe Cohen shared what the current plans would look like for residents, according to SFGATE.

“But it’s a lot of small units along these long corridors, with a huge recreation center as the play space,” he said.

The current proposed plans show three large rings of connected houses, each ring with a courtyard or garden in the middle.

The Costco warehouse would then be attached to the complex.

The store will also be available for all Costco members to shop and will be close to public transportation for people to access.

These plans have not yet been approved, and a large-scale housing and construction project like this could take years to get a final yes.

This could offer some people a solution to the city’s housing crisis.

The median home price in Los Angeles was $1 million last year, according to The Guardian.

These rising costs have caused a crisis in the city and led to more homelessness.

TINY SOLUTION

A small residential community has been created in the city’s Boyle Heights neighborhood to help solve this problem, The US Sun previously reported.

The Boyle Heights Tiny Home Village has 72 miniature homes with 144 beds.

Rental costs are $0; Each unit has heating, air conditioning, bathrooms and food.

“Today marks a milestone as we come together to open Boyle Heights Tiny Home Village, the first home of its kind on the East Side of Los Angeles,” said Los Angeles Councilman Kevin De León.

The US Sun has reached out to Costco for comment.