This week, construction begins on a new Costco store in South Los Angeles that will include low-income and workforce residences. Last year, FOX 11 reported on real estate developer Thrive Living’s plans for a mixed-use complex at 5035 Coliseum Street.
The project will transform an underutilized five-acre commercial site in Baldwin Village into a complex containing 800 residential apartments and the neighborhood’s first Costco.
According to Thrive, Costco’s new state-of-the-art store will offer fresh produce, healthy food alternatives, optical services, a pharmacy, and community delivery.
According to preliminary renderings shared with FOX 11, 184 apartments, or 23% of the total apartment rental units, will be dedicated to low-income housing.
The remaining apartments would be non-subsidized affordable and workforce housing for Section 8 voucher holders, including families and seniors in South Los Angeles.
According to Thrive, the project is the first new housing community in Los Angeles to move forward under AB-2011, which was passed to help address California’s urgent housing issue by simplifying clearance for projects like low-income housing.
It is also the first mixed-use development in the United States to have Costco as an anchor retail tenant.
Officials are anticipated to attend the groundbreaking event, which begins at 9 a.m. Wednesday’s speakers include Los Angeles Mayor Karen Bass, City Councilmember Heather Hutt, Thrive Living creator Ben Shaoul, and Costco Regional Administrative Manager Sean Mackin.
The project is expected to generate thousands of new construction employment.
