A groundbreaking Costco project is set to transform Baldwin Hills, a neighborhood in South Los Angeles.
The construction of a $425 million mixed-use development combining a Costco warehouse with residential living is a first-of-its-kind to battle the housing crisis.
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The new complex will feature 800 apartment units directly above the store, a significant milestone in urban retail and housing.
The innovative project, led by real estate developer Thrive Living, is scheduled to begin construction in early 2025.
A project completion date is expected by 2027.
NEW BEGINNINGS
Of the 800 apartment units, 184 will be reserved for low-income households.
The remainder will be offered as a mix of unsubsidized, affordable, and workforce housing.
Designed with modern amenities, the complex will even include a rooftop pool and fitness center to cater to residents.
The Costco itself will span an impressive 185,000 square feet, making it larger than the average Costco in the U.S., which is usually 146,000 square feet.
It will also feature two levels of underground parking. for full convenience for shoppers and residents alike.
The space will also include a gym, rooftop pool, and gardens.
When construction is over, this complex will be the first residential development in the US with a Costco right downstairs.
BETTERING BALDWIN HILLS
Baldwin Hills is a neighborhood with a poverty rate 25% higher than the national average.
This huge change is poised for a significant economic boost for the area, with projections to create thousands of construction jobs and up to 400 permanent positions at Costco once it opens.
Thrive Living’s press release highlighted the transformative potential of the project, calling it the first of ‘thousands’ of similar developments in the future.
Costco membership sharing guidelines
Costco has strict rules for membership use that shoppers must follow and they’ve been cracking down on offenders in recent years.
- Primary Member Use: Only the primary cardholder can use this Costco membership card. Sharing it for purchases is not allowed as the photo on the card must match the person using it.
- Household Card: Each primary member can add one free household cardholder who lives at the same address. This person will receive their own membership card and can shop at Costco independently.
- Guest Policy: Members can bring up to two guests per visit to Costco. However, only the member can make purchases. Guests must be accompanied by the member.
- Authorized Cardholder: For an additional fee, you can add an authorized cardholder, such as a family member or friend, who doesn’t reside at your address. They will receive their own card and can shop independently.
Credit: Costco
The project was greenlit under California’s Assembly Bill 2011, also known as the Affordable Housing and High Road Jobs Act.
This pioneering apartment-Costco hybrid is more than a local landmark, as it could signal the start of a national trend to solve the housing crisis.
By integrating residential living with large-scale retail, the concept offers a solution to urban housing challenges while fostering economic growth for impoverished locations.
This Baldwin Hills Costco complex could reshape how communities approach urban development in the future.
