Costco's New Mixed-Use Development Tackles California’s Housing Crisis

[Sanjeev Advani]

A unique project in South Los Angeles is transforming real estate development in California. Thrive Living, in partnership with city officials, is building 800 apartments above a Costco store. This first-of-its-kind project addresses California’s housing shortage by repurposing an underutilized site into a vibrant residential and retail space.

Of the 800 units, 180 will be affordable housing, with amenities including a rooftop pool and fitness center. Costco will anchor the project, providing essential retail services and creating 400 jobs. As Governor Newsom noted, this project is an example of how state laws can transform spaces into beneficial mixed-use developments.

This project is expected to set the tone for future developments that combine convenience, housing, and community benefits in California and beyond.