A new apartment building is being built on top of a Costco, and some people are not happy about it
Costco, the giant warehouse store selling bulk-sized groceries at low prices, is known for its large boxy buildings and sprawling parking lots.
But its newest Costco store proposal is in the middle of an urban area in LA.
This week the developer announced a proposal for a mixed-use complex at 5035 Coliseum in LA that will feature a Costco and 800 residential rental units above.
Is this a sign that Costco is trying to get into dense urban areas?
If so, could this mean that the company will be looking at other urban areas for future stores?
Privately owned Thrive Living, a national real estate firm, intends to demolish a five-acre commercial lot that was once home to a sprawling AT&T facility but is now vacant.
The developer intends to replaces it with a mixed-use complex that will include a members-only warehouse store as well as residential rental units.
Thrive Living says "the store is state-of-the-art and includes fresh produce, healthy food options, optical services, a pharmacy, and delivery services."
The store is attached to the housing complex, which includes a ground-level warehouse, two underground levels, and ground-level parking. The company uses a cost-effective and innovative modular design that enables the delivery of high-quality housing at below market rates.
Of the 800 proposed units, 184, or 23% of the total, will be dedicated to low-income households.
Costco estimates that up to 400 new jobs in California will be created.
The project proposal must still be approved by the city. If approved, construction will begin in 2024 and be completed in 2026.
The reaction in the neighborhood has been mixed.
The proposal has been met with support and opposition from residents in the area, who have mixed reviews on what it could mean for their neighborhood.
Some locals welcome the presence of a Costco. However, we learned on Saturday that some are opposed due to the parking issues that 800 units plus a busy Costco will create.
"It would be great so my mom doesn't have to drive all the way to Costco," Michael Brown told local television. "She could come right here and shop."
Other residents, on the other hand, are concerned about potential parking issues and increased traffic in the area.
As of January 23, 2023, there are 585 Costco retail stores in the United States. California has the most Costco locations in the United States, with 133 retail stores.
What are your thoughts?
What do you think about the new "urban" style of Costco?
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Disclaimer: This article is only for educational and informational purposes.
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