Costco, a retail chain known for cavernous buildings full of stacked goods, is working on a deal in Los Angeles that would put apartments full of potential customers on top of a planned store.
The Kirkland, Washington-based company is slated to be the ground-floor retail tenant in a redevelopment of a 5-acre commercial site into 800 apartments at 5035 Coliseum St. in the L.A. neighborhood of Baldwin Hills. That’s according to developer Thrive Living, an affiliate of New York-based Magnum Real Estate Group, which put out a statement and renderings of the project earlier this month.
The developer is seeking approvals from the city of Los Angeles to build the project in the dense neighborhood southwest of downtown L.A.That said, the deal may have national retail implications for Costco, a retailer that’s typically known for its massive parking lots and stand-alone stores.
Source: Costar
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