As some of the most destructive fires in California's history ravaged Los Angeles neighborhoods and destroyed thousands of homes, an innovative mixed-use development broke ground in South LA. The project, which combines a Costco store on the ground floor with 800 residential units above, is the first partnership of its kind between the retailer and a residential developer.
Developer Thrive Living is transforming a former office property on the south side of LA into a vibrant community hub that will provide much-needed housing options. With 23% of units going to low-income households, the complex addresses critical needs in a city that was already grappling with housing affordability and availability before the recent fires made a dire situation even worse.
The project's downtown location highlights a growing recognition that dense, mixed-use developments in city centers offer multiple advantages. For places prone to wildfires, like California, they offer the added benefit of lower fire risks than sprawling neighborhoods straddling the wildland urban interface — the zone of transition between unoccupied land and human development. For retailers in every housing-crunched region, meanwhile, here's your opportunity to do a massive amount of good — and acquire built-in customers, to boot ;-) Construction of the 'Costco apartments' is expected to conclude in 2027.