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A new development plan would increase the number of affordable housing units for people in South Los Angeles.
The real estate company Thrive Living announced a plan that would integrate a Costco store with affordable housing units. The project would include 800 units and be located between La Brea Avenue and Coliseum Street.
The lower level would house the Costco store, which would include an optometrist, pharmacy and other services.
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Thrive Living said 184 apartments, or 23% of total units, would be dedicated to homes for people of low incomes. “The balance of the market rate units will be non-subsidized affordable and workforce housing, all of which will be eligible for residents with Section 8 vouchers,” the company said.
The project sooks to address “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,” Thrive Living’s Jordan Brill said.
The $1 billion project would be erected in Baldwin Village.
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“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, in addition to all of the other services Costco provides,” said Brenda Ashby, an executive committee member of the Crenshaw Manor Community Association.
Costco plans to hire up to 400 people in the area, according to the press release announcing the plan. The project still needs to be approved by the City of Los Angeles.
