Thrive Living aims to go large in Baldwin Hills.
Thrive, a Los Angeles-based unit of Magnum Real Estate Group of New York, has announced plans to build a six-story building with a Costco store and 800 apartments at 5035 West Coliseum Street in Baldwin Village, Urbanize Los Angeles reported.
A formal application hasn’t been filed with the Los Angeles Planning Department, though the developer applied for a permit this month to raze some unidentified buildings.
The mixed-use Costco project would be built on 5 acres that once contained View Park Community Hospital, according to a project description. The site, which once housed offices for AT&T field technicians, has been vacant since 2021.
Thrive Living would use Transit Oriented Community incentives to construct a larger building than zoning rules allow in exchange for 184 affordable apartments for low-income tenants.
The remaining apartments would be non-subsidized affordable and workforce housing available to renters with Section 8 vouchers, including families and seniors in South Los Angeles.
The Baldwin Hills project would be composed of prefabricated modular units, built off site and then assembled on the property.
The project would include a six-story building with the Costco on the ground floor and 800 apartments overhead. A multi-level underground garage would serve an undetermined number of cars.
The development would include five courtyards, a landscaped walking path, a rooftop pool, basketball courts, a playground and a fitness area. It’s expected to include outdoor spaces for movie nights, community gardens and classes.
The mixed-use building, designed by AO of Orange, would feature inset balconies and windows surrounded by gray and brown trim, based on a rendering.
In June, Magnum Real Estate bought the Baldwin Hills Shopping Center across the street at 5060 Obama Boulevard for $37.3 million, as reported by The Real Deal. The 104,000-square-foot property is anchored by a Ralphs grocery store.
— Dana Bartholomew
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