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Nation’s First Mixed-Use with Costco as Anchor Breaks Ground in South LA
City and community leaders gathered in South Los Angeles’ Baldwin Village community to mark the beginning of construction on 5035 Coliseum, a mixed-use project featuring a new Costco Wholesale store at the street level with 800 units of rental housing above. Reportedly it’s the nation’s first mixed-use development with Costco as the anchor retail tenant.
The new mixed-use community is being developed by Thrive Living, a national real estate firm that acquires underutilized properties and converts them to residential and retail uses. In the case of 5035 Coliseum, the property was a disused office building.
5035 Coliseum is the first project to receive approval in the City of Los Angeles under AB 2011, The Affordable Housing and High Road Jobs Act, a state law that took effect July 1, 2023. A total of 184 apartments will be dedicated to low-income households. The balance of the units will be non-subsidized affordable and workforce housing.
- ◦Development
