On Wednesday, South Los Angeles welcomed a groundbreaking ceremony for a unique mixed-use development, slated to bring the first Costco store to the neighborhood, along with 800 new apartment units. The development, named "5035 Coliseum," is positioned at the junction of Coliseum Street and La Brea Avenue in Baldwin Village, a concept that integrates retail space with residential opportunities.
The project breaks new ground not only literally, but also in its approach, being the first in the country to feature Costco as its foundational retail tenant, according to ABC7. It leverages the streamlined processes introduced by California's AB 2011 law, which targets faster approvals for mixed-use projects that offer low-income housing. Nearly a quarter of the proposed apartments, or 184 units, are earmarked for low-income households, with the remaining spaces categorized as affordable, non-subsidized, and workforce housing – all eligible for Section 8 vouchers.
This development comes as a response to Los Angeles Mayor Karen Bass's declaration of a housing emergency, indicating a sharp focus on bridging the housing affordability gap in the city. “Mayor Bass has declared a housing emergency in Los Angeles, and we’re answering the call," stated Jordan Brill of Thrive Living, as reported by NBC Los Angeles. The real estate firm behind the project, Thrive Living, specializes in developing properties in communities facing significant housing affordability issues.
Besides offering bulk-buying options for residents, the Costco branch plans to include a range of services such as optical, pharmacy, and delivery services particularly geared toward supporting local businesses, detailed KTLA. Local community members, such as Brenda Ashby of the Crenshaw Manor Community Association, regard the project as a "game changer," noting that, "The team at Thrive created a dynamic community vision that made the difference in attracting Costco."
Despite the enthusiastic response, concerns remain from some residents about the potential for increased traffic and gentrification as a result of the new development. However, the economic benefits, including the creation of an estimated 400 new jobs, offer a positive outlook for the local workforce, amplifying the project's contributions beyond its structural blueprint. Mayor Karen Bass, along with Councilmember Heather Hutt and other dignitaries, marked the commencement of the project in a ceremony that engaged community leaders and future residents alike.
