LOS ANGELES (KABC) — The Crenshaw area may soon get a new Costco store that comes with a rather unique addition: 800 apartments built above it.
Thrive Living, a national real estate firm, plans to raze a five-acre commercial lot at 5035 Coliseum and build a mixed-use complex that features the members-only warehouse store as well as the residential rental units.
Of the 800 proposed units, 184 of them, or 23% of the total units, will be dedicated to low-income households. The rest of the market-rate units will be deemed non-subsidized affordable and workforce housing, all of which will be eligible for residents with Section 8 vouchers.
Neighbors in the area have mixed reviews of the proposal.
“It would be good, so my mom doesn’t have to drive way far away to Costco,” said Michael Brown. “She could come shop right here.”
Other Crenshaw residents are pointing out the potential parking problems and the increase in traffic it could bring to the area.
“Eight-hundred units? Uh uh. Uh uh!” said Larry Kidd who lives down the street from the proposed site. “If they can build a parking lot that will hold 800 units plus for the store, that’ll be unbelievable.”
For others, the big concern is gentrification. People have the belief that new developments will increase demand for the area and push up the cost of living.
“I feel like everything around it will go up in price,” said Ashlyn Foster.
The land in question used to house a sprawling AT&T facility, but it now sits idle.
The project proposal still needs to be approved by the city.
Copyright © 2023 KABC Television, LLC. All rights reserved.
Read More: Crenshaw could have a new Costco store with 800 housing units on top