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.
