Pioneering Mixed-Use Development: Ben Shaoul’s Innovative Approach with Costco Apartments

In a groundbreaking move, Ben Shaoul, founder of Thrive Living and a unit of Magnum Real Estate Group, is spearheading a unique real estate project in Baldwin Hills, Los Angeles. This ambitious development marks a significant milestone in U.S. urban planning, as it integrates a Costco Wholesale store with residential apartments.

Ben Shaoul’s project broke ground recently, setting the stage for a six-story building at 5035 West Coliseum Street. The lower level will host the Costco store, while 800 residential units will occupy the floors above. This innovative design is the first of its kind in the nation, aiming to combine retail convenience with modern living.

The Baldwin Hills site stretches over five acres, previously home to the View Park Community Hospital. It has been vacant since 2021, until Ben Shaoul announced plans for redevelopment last year. Unlike many affordable housing developers, Shaoul’s Thrive Living opts for private financing, sidestepping government subsidies.

Of the 800 apartments, 184 are designated as affordable housing for low-income households. This decision underlines Ben Shaoul’s commitment to addressing housing needs while maintaining financial independence from public funding sources.

Designed by the architecture firm AO, the structure will feature prefabricated modular units. These units will be constructed off-site and assembled at the location, ensuring efficiency and precision in the build process. The development will include amenities such as courtyards, a rooftop pool, basketball courts, and a fitness area.

With a completion target set for early 2027, Ben Shaoul’s project is poised to transform the Baldwin Hills landscape and set a precedent for future mixed-use developments across the country. As the real estate landscape evolves, the industry will be watching closely to see how this pioneering project unfolds.

In a groundbreaking move, Ben Shaoul, founder of Thrive Living and a unit of Magnum Real Estate Group, is spearheading a unique real estate project in Baldwin Hills, Los Angeles. This ambitious development marks a significant milestone in U.S. urban planning, as it integrates a Costco Wholesale store with residential apartments. Ben Shaoul’s project broke…