About 1 1/2 years after ground broke on the Monterey Park Market Place shopping center, one of its most hotly anticipated tenants is set to open at the end of May — Costco Wholesale.

The retail giant has a planned opening 8 a.m. Thursday, May 31 at 2000 Market Place Drive. It replaces the Montebello Costco just 3 miles southeast, across the 60 Freeway, which closes Wednesday, May 30.

At 158,000 square feet, the Monterey Park Costco is 15 percent larger than its predecessor, and it includes something the Montebello space could never offer — a 24-pump gas station.

In addition, the new location will have an optical department with an independent optometrist, a pharmacy, a hearing aid center, a tire center and more.

“In addition to exciting new and expanded services, the relocation will provide our members with an extensive product selection in numerous categories – including fine wine, apparel and electronics,” store manager Yin Lawler said in a statement.

The Monterey Park warehouse will not, however, have an on-site photo center. A letter sent to nearby residents informed them that they can continue to purchase photo prints and products via the Costco Photo Center website and have them delivered or pick them up at other nearby stores with photo centers, such as the Alhambra location.

Photo orders should be picked up from the Montebello Costco no later than May 29, the letter states.

The new location will employ 310 people, while the Montebello location employed 250 at most, according to a statement from Costco.

The warehouse store moving to Monterey Park could bring competition to local businesses but should have a positive effect on the city, Dora Leung, president of the Greater Monterey Park Chamber of Commerce, said in an email.

“Although we understand some of our local businesses may be affected, overall Costco will bring much needed sales tax revenue to our community as well as job opportunities for our residents,” Leung said.

Monterey Park residents have been waiting since at least 2000 for progress on the Market Place.

Several issues impeded progress at the site over the years. In the past, the property served as a landfill, and in 1986 the Environmental Protection Agency deemed it a Superfund site, a polluted location requiring long-term response to clean up contamination.

Agreements also had to be established with Southern California Edison, whose power lines run overhead, and Caltrans because the location is so close to the freeway.

Those challenges were overcome in August 2016, then-city manager Paul Talbot said at the time, clearing the way for developer M&M Realty Partners to begin construction.

The shopping center is set to be anchored by Costco, In-N-Out Burger, Starbucks, Chick-Fil A and Home Depot, which is expected to open in June.

The move from Montebello has not been entirely smooth for Costco. The warehouse chain is suing the city of Montebello for revoking a lease option Costco had dating back to 1993, which allows it to buy the 18-acre property at 1345 Montebello Blvd. for $7.6 million.

City officials said in written reports they don’t trust Costco to develop the property in a way that would serve Montebello residents, and they don’t believe the proposed price is a fair one.

No decision has been made in the suit since it was filed in December. The next court date is July 18.