The developer, locally based LCOR Public/Private Inc., wants to build a 440,000-sf project anchored by both retailer Costco and home-improvement giant Home Depot near the busy intersection of Pico and San Vicente boulevards. But unlike most retail centers, LCOR's project would be "stacked": Costco would occupy the ground floor, while Home Depot would literally sit on top of it.

The LA Planning Commission approved the project after hearing four hours of complaints from some nearby residents and praise from others. Opponents cited several concerns, ranging from the possibility of increased traffic to how the project itself will look.

Many supporters countered that they like the stacked project because it will be within walking distance of their homes or businesses, thus eliminating the need to drive their cars when they need to pick-up groceries or supplies. Others noted that the parcel is currently a blighted lot that attracts transients and vandals, while generating little tax revenue for the community.

Developer LCOR had to make several concessions to win the Planning Commission's approval. Those changes include lowering the project's height to 65 feet from 71 feet, adding more hedges and other landscaping, and agreeing to pay up to $300,000 for traffic improvements after the project opens.

Officials from LCOR say the project should take about 18 months to complete.