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Costco
Costco may open a new store at the bottom of an apartment building, an atypical format for the big box retailer.

Dominic Lipinski - PA Images / Contributor / Getty Images

  • A new Los Angeles apartment building plans to have a Costco location on the ground floor. 
  • It's an unusual setup for the big box retailer: its locations are usually in massive warehouses. 
  • See current photos of the property vs. the developer's plans for its mixed-use Costco. 
Costco plans to open its first location in South Los Angeles – and it will be on the bottom floor of an apartment building.
Exterior of 5035 Coliseum St.
This is the current entrance to the property. It is located in the Baldwin Hills neighborhood of LA.

Samantha Delouya

On Monday, Thrive Living, a New York-based developer, announced its plan for an 800-unit rental apartment unit anchored by a new Costco location. 

It's an unusual format for the big box retailer, which is known to sell products in bulk at reasonable prices; Costco normally houses its store locations in massive warehouse-like structures. 

In a press release, the developer said that more than one-fifth of the units would be dedicated to low-income housing and would be made using a "cost-effective" prefab design.
Exterior of 5035 Coliseum St.
The site of an abandoned hospital may turn into an 800-unit prefab apartment building with a pool, fitness center, and Costco on the ground floor.

Samantha Delouya

The mixed-use building is planned to be located on the 5-acre sight of an old hospital, though the city of Los Angeles confirmed to Insider that the Thrive hadn't submitted a full application for the property yet. 

Thrive Living's plans for the apartment include multiple outdoor courtyards, a rooftop pool, basketball courts, and a fitness area, according to commercial real estate and development news site Urbanize LA. 

See renderings from Thrive Living on the mixed-use building: 

Plans for the new Costco location include a grocery section, optical services, a pharmacy, and delivery services, according to the developer.
A rendering of the housing community with a Costco underneath that will open in Los Angeles
A rendering of the housing community with a Costco underneath that will open in Los Angeles

Thrive Living

"Mayor Bass has declared a housing emergency in Los Angeles, and we're answering the call," said Jordan Brill of Thrive Living in a press release.

"Our company is focused on addressing 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." 

Costco estimates that up to 400 new jobs will be created, according to the developer's press release.
A new housing community with a Costco underneath will open in Los Angeles
A rendering of the housing community with a Costco underneath that will open in Los Angeles

Thrive Living

Thrive Living said it would partner with Costco to create a local hire and job training program for residents who live in the area. 

Costco declined to provide a comment to Insider about any plans for a new store location in Los Angeles.

Read the original article on Business Insider
Retail, Real Estate, Features, Costco, Los Angeles, big-box store
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Check out these renderings for an apartment building that's about to be built o…