Tracy Gosson’s Post

#Living on top of a supermarket | #midrise #TOD example in urban settings A controversial proposal from Costco Wholesale in #LA put in the spotlight an interesting mix-use building consisting in a grocery store at ground level with residential use above and communal amenities in close proximity to public transit. The compact design of residential layouts and proposed #unitmix are the subject to community concerns. However, the much needed situation of #affordablehousing for #lowincome residents are part of the city goals in pushing this application moving forward on time. Despite of the differences in public opinions about the size and mix of housing and your preference of grocery shopping, the project will deliver a sized amount of housing units including one quarter for rental, and creates employment opportunity in the same location. A #TOD model of this kind shows a smart strategy to plan and design opportunity for #living and #work close to transit in urban areas faster. How successfuly a community living above supermarkets can be planned? Time will be the only judge. #TOD #communityliving #affordablehousing #walkablecities #planing #urbandesign

JUST LISTED - Panera Bread 4-Tenant Strip | Mansfield (Ontario), OH We are excited to be brining to market a 4-tenant strip center located in Mansfield (Ontario, OH). This site benefits from strong retail synergy, local positioning, and high traffic counts. About one month ago I toured the site and was not only surprised by how much retail development is going on in the nearby trade area, but also by the number of cars and consumers in the nearby parking lots. There is a lot to be excited about in the Mansfield (Ontario) market; providing below some brief investment highlights as a sneak peek. - List price of $2,601,487 yielding a 7.50% Cap Rate - Main Retail Corridor: Strong retail synergy with numerous national brand tenants including but not limited to Menards, Meijer, Target, Best Buy, Starbucks, IHOP, Sunbelt Rentals, Sam’s Club, Lowe’s, ALDI, Applebee’s, Taco Bell, AT&T, Panda Express, Five Guys, Mattress Firm, Outback, & more. - Long Term Occupancy: Panera Bread has been at this location since 2006 and recently installed a drive-thru to be up to the tenants current real estate plans and development standards. The tenant signed a brand new, 10 year extension in 2020 showing their long-term commitment to the location. - Extensive Retail Development in Trade Area: National tenant’s are developing in the local trade area given low vacancy within the Ontario retail hub. Recently completed and current developments include but are not limited to Caliber Collision, Culver’s, Ferguson, Holiday Inn Express, & more. Healthy WALT: The property’s Weighted Average Lease Term (WALT) exceeds 5 years. Reach out to me directly with any questions or interest - edward.desimone@matthews.com

Are you planning a Costco Wholesale run this weekend? What if all you had to do was walk downstairs? The new "Costco prison" will feature 800 apts (350sf studio, 452sf 1br, 605sf 2br). 23% Designated low income housing, and ALL units Section 8 eligible. So clearly barely enough room in your unit to store 1 run of water, TP, paper towels, BUT you can have a hot dog for lunch everyday, and a fresh chicken for dinner all on the cheap! “Living inside it won’t be like living in a prison, obviously. But it is a bunch of small units along these long hallways, with a massive recreation center as an amenity space. From a plan view, it looks like an old school prison design.” Gotta tip your hat to the innovation and brilliance of Costco's plan - it's their next evolution. They are going in two directions to expand: 1. Even larger locations where there is land, with massive parking lots, EV stations galore, and 32 stations for the gasoline pumpers. 2. Mixed use urban, and access to a whole new consumer they have not been profiting from. What do you think? A. Bold and Brilliant, B. Risky C. Costco is making "Idiocracy" real, D. All of the above Mark Norton Dave Severance Geoff Miller Bruce F. Taub Kyle McCreight Tamara Romeo Jason Oppenheim, Esq. Irving Kau William Chiem Shaun Benesch Miles Hu Kip Downer Stonington Cox Charles J. Cooper Johnny Cram

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/gN4quMAf

It won’t be long before a select few Costco Wholesale fans in Los Angeles will be able to live just a few flights above their favorite retailer. Thrive Living, a California-based developer, is converting a vacant lot in the Baldwin Village neighborhood of the city into an amenity-rich apartment building, complete with 800 rentable units, a rooftop pool, gym, and basketball court. The most appealing amenity, however, might just be the Costco warehouse that is slated to take up the ground floor, complete with a pharmacy and optical services. That alone makes the mixed-use building—a term used to describe a real estate project that blends residential and commercial spaces—unique. It is the first time Costco is leasing a space in a residential development like this one. Long-term, however, the biggest upside may be for Costco—and its shareholders. The retailer’s move could set a new precedent for its urban expansion strategies, giving Costco more flexibility to tap into densely populated areas and position itself closer to where shoppers live. https://lnkd.in/g5GPk7e7

🌟 Exciting News Alert. 🌟 Costco, the retail giant, is breaking into a surprising new market: Modular Housing! 🏡💡 Check out this fascinating article originally published on Urban Proxima, shared in Strong Towns' journal. Costco is making waves in Los Angeles' Baldwin Village neighborhood with plans to build housing using a unique approach to bypass traditional lengthy and costly processes. 🏗️🌆 Key takeaways: - Costco is leveraging new legislation to streamline the building process and save on offsite labour costs. - Modular construction is the name of the game, resulting in housing that resembles modules or containers that stack up nicely. 🏗️📦 - This innovative move by Costco sheds light on how regulations can negatively impact urban development and housing supply. 🌆🔍 Here are three compelling reasons why the format of modular housing with rapid approvals will contribute positively to affordable housing over time: 1. **Cost Efficiency**: By utilizing modular construction techniques and streamlining approval processes, developers can significantly reduce construction costs, making housing more affordable. 2. **Faster Development**: Rapid approvals for projects like modular housing allow for quicker development timelines, addressing the urgent need for housing and meeting the growing demand for affordable options. 3. **Scalability and Replicability**: The modular housing approach is highly scalable and replicable, making it easier to reproduce successful housing models in different locations, increasing access to affordable housing. Learn more about this groundbreaking initiative by reading the full journal here: https://lnkd.in/gN3p7sX2 Costco's innovative approach to housing development is sure an interesting approach that explores the intersection of regulations and urban growth. 🙌💭 Strong Towns' mission to empower local leaders and residents to create financially resilient communities is a worthy endeavour; you might even consider becoming a member today. 🌟💼 #Costco #ModularHousing #UrbanDevelopment #Innovation #HousingSupply #AffordableHousing #StrongTowns 💪🏘️ What are your thoughts on these types of developments? How do you think they could further contribute to the promotion of affordable housing? Let me know your perspective below. 🏡💬

One of the biggest surprises to retail tenants today is the current cost of a build-out. While the national average is $147 psf, Texas prices are ranging anywhere from $75 psf (vanilla box) to $150 psf. So construction costs are not only affecting rent in new retail centers but also the capital required up front to get the doors open. Business owners need to be strategic about their square footage to be sure they can go the distance. #commercialleasing #commercialrealestate #icsc #smallbusinessowner #constructioncosts #retailrealestate #retailleasing #restaurantindustry

So Costco Wholesale is getting into #apartments. I gotta wonder: will these Costco apartments come with extra large refrigerators to handle all of those huge purchases of dairy and meat? And will the pantry be able to hold cases of paper towels? They've got some hurdles, but they will likely do it and do it well. #apartmentindustry #multifamilyindustry #multifamilyhousing #housingshortage #housingcrisis #california #bayarea #apartmentmarketing #apartmentleasing #apartmentoperations

🏬Costco Wholesale has announced the launch of their own affordable housing units, as they transform the retail experience and help to address the housing crisis. An approved upcoming Costco location in South Los Angeles will combine the company’s more-is-more brand with a novel new approach to residential construction. The project, to be built by developer Thrive Living and architects AO, will encompass not only the Costco store (and necessary parking) but a whopping 800 residential units, including 184 set aside specifically for low-income tenants. The "state-of-the-art" development will rethink how retail and residential real estate can complement each other, providing housing that is in high demand, and more tailored shopping experiences for residents and those commuting to the retail component of the development. Read more about the new venture for Costco, and how they plan to transform their retail and wider offering with it, via the article linked below. 👇 https://lnkd.in/dg4EdGpC #RealEstate #Affordable #HousingCrisis #PropTech ---- 💡 Follow PropTech Connect for daily Real Estate and PropTech news and insights.

In these strange and interesting times for #CRE as properties get repurposed into new uses, Costco is taking a step forward into mixed use developments that include #retail and #multifamily, designating units as #affordablehousing. "So yes, 800 small apartments can fit on top of a Costco in the middle of Los Angeles, with 23% of those units reserved for low-income residents and all units eligible for Section 8 vouchers. And if done right and embraced by locals, developers, big box retailers and public officials, the project could be a novel model for future build-outs statewide." https://lnkd.in/erCG54Bg