Thrive Living is making waves with a groundbreaking project in Baldwin Hills, where the nation’s first-ever Costco topped with apartments is now under construction. This exciting development, led by Los Angeles-based Thrive Living (a subsidiary of Magnum Real Estate Group), is set to redefine urban living by blending big-box retail with modern housing.
Located at 5035 West Coliseum Street, the six-story building will feature a Costco store on the ground floor, with 800 residential units built above. This innovative mixed-use concept marks the first time Costco has been integrated into a residential complex, providing both shopping convenience and housing in one central location. The project occupies a 5-acre lot that was once home to View Park Community Hospital and later housed offices for AT&T field technicians before the site went vacant in 2021.
A highlight of the project is its focus on affordability. Out of the 800 apartment units, 184 will be set aside for low-income households, helping address the growing demand for affordable housing in Los Angeles. Thrive Living is unique in that it finances its projects privately, without relying on government subsidies or low-income housing tax credits, which is rare among affordable housing developers.
Construction is expected to be completed by early 2027, and this development represents a fresh approach to mixed-use urban planning. By combining a retail giant like Costco with much-needed housing, Thrive Living is demonstrating that innovative, community-focused developments can help meet both economic and residential needs in one space.
**Conclusion:**
This project is a win-win for Baldwin Hills and the broader Los Angeles community. It promises to bring more housing options, support low-income families, and create a convenient living environment for residents. Thrive Living’s forward-thinking approach is setting the stage for more developments like this, where urban living and retail blend seamlessly to create vibrant, sustainable communities. Keep an eye on Baldwin Hills—great things are happening!