A novel approach to affordable housing has made way to Los Angeles recently. Costco and Thrive Living, a real estate group, have teamed up to develop a mixed-use apartment community. The project, located at 5035 W. Coliseum Street in the Baldwin Village area of LA, will feature a Costco warehouse with with 800 apartments nestled on top of it. Out of those 800 apartments, 184 will be designated as affordable housing units.
The Development Details
This unique housing project will replace a five-acre lot that used to be a hospital. The development is strategically located a half-mile from the Expo/La Brea train station, making it eligible for additional density under LA's Transit Oriented Communities Incentive Program (TOC). This proximity to public transit highlights a blend of urban living with accessibility, aiming to create a vibrant and sustainable community.
The lot will of course contain parking for both residents and Costco shoppers, along with indoor and outdoor fitness areas, community space, a basketball court, rooftop pool, and community gardens.
To keep building and labor costs as low as possible, the apartment units will be made of pre-fab modules that can be transported via trucks.
A New Urbanism Model
The combination of a large retail space with residential units represents a significant step in new urbanism, emphasizing the need for affordable housing and higher density living near public transportation hubs. This model not only addresses housing shortages but also promotes a lifestyle that reduces reliance on cars, thereby benefiting the environment. How convenient it would be to simply walk out your door and downstairs to grab that last ingredient you're missing to make dinner!
Diverse Reactions and Broader Implications
While the Los Angeles project is a progressive step towards addressing housing shortages, similar initiatives in other locations, such as Lincoln Park in Chicago, have seen mixed reactions. The expansion of Costco there included additional parking spaces, which drew both praise for the added amenities, and criticism for increasing car dependency.
Setting a Precedent for Future Developments
The collaboration between Thrive Living and Costco could set a precedent for future developments, showcasing how commercial and residential spaces can be effectively integrated to meet urban housing needs. This innovative approach highlights the potential for large retail chains to play a significant role in solving housing crises while promoting sustainable urban living.
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