Check Out This Apartment Building Being Built on Top of a Costco in LA

Sep 26, 2023

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.

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:

"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."

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.