Out of the box business strategy

Costco is building 800 low income, affordable apartments above one of its locations in South Los Angeles. The project redevelops an abandoned hospital site and utilizes a new California law that allows for affordable housing developments to undergone expedited permit reviews. 

The rents are covered by Costco’s retail income at the location. No government subsidies. Let’s not forget this week, Consumer Reports named Costco the most affordable grocer in the nation. That’s some social impact.

@itswealthyeducator

Fox11 | Costco opening new warehouse under affordable housing complex in South LA