Costco's new store in South Los Angeles will integrate 800 apartments on top of its 185,000-square-foot warehouse, leveraging California's AB 2011 to circumvent hurdles in development.
The AB 2011 law facilitates commercial projects with affordable housing, effectively bypassing environmental reviews often invoked by NIMBY groups, which could significantly accelerate housing projects.
Costco's interest in this project reflects a shift in its strategy; they have sought to enter sub-markets like South Los Angeles but faced entry barriers due to site requirements.
Building in Los Angeles is notoriously difficult due to political challenges, particularly for big box stores; the new law’s introduction seems to open new possibilities for Costco.
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