Dream of living at Costco? Check out what’s opening in California

LOS ANGELES — Costco pretty much has it all: food, supplies, tires, gas, vacation packages, and now, it seems the warehouse chain is dabbling in housing.

On Wednesday, Los Angeles Mayor Karen Bass announced the groundbreaking of a new project: an affordable housing development with a Costco.

“We are breaking with the old ways of doing things and moving Los Angeles forward. Unprecedented action driven by collaboration in both the public and private sector is what is expected and that’s what we are delivering today,” Mayor Bass said. “I want to thank all the partners who worked together to achieve today’s milestone. This is about delivering for the people of Los Angeles, and we will continue this urgent work.”

The project will be privately funded by Thrive Living, a national real estate firm.

According to the press release, the project will include 200 units of affordable housing, create thousands of construction jobs, and 400 permanent jobs at Costco.

“Mayor Bass has declared a housing emergency in Los Angeles, and we’re answering the call,” Jordan Brill of Thrive Living said. “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.”

The project is the first one approved since the approval of California Assembly Bill 2011 (AB 2011) in 2022, which paved the way for streamlining multifamily housing development across the state.

No word on the exact timeline for completion of the project.

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