The groundbreaking for a new mixed-used apartment development, which will bring the first Costco to South Los Angeles and 800 new apartments, is slated for Wednesday.
Thrive Living, the real estate company behind the project, announced last year that it wanted to build the mixed-used complex in a five-acre commercial lot near the intersections of La Brea Avenue and Coliseum Street.
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Thrive Living, the real estate company behind the project, announced last year that it wanted to build the mixed-used complex in a five-acre commercial lot near the intersections of La Brea Avenue and Coliseum Street. (Thrive Living) -
Thrive Living, the real estate company behind the project, announced last year that it wanted to build the mixed-used complex in a five-acre commercial lot near the intersections of La Brea Avenue and Coliseum Street. (Thrive Living)
About 23%, or 184, of the 800 apartment units will be set aside for low-income households.
The project is also the first new housing project under AB 2011 in Los Angeles, Thrive Living officials told KTLA.
AB 2011 is a California law that streamlines the approval process for eligible residential developments in specific areas. The law went into effect on July 1, 2023.
Mayor Karen Bass, L.A. City Councilmember Heather Hutt, California Assemblymember Buffy Wicks, Thrive Living and Costco company officials, and others are slated to attend the groundbreaking.
The new Costco, the anchor for the 800 apartment units, will have optical and delivery services, a pharmacy and offer residents healthy food options, including fresh produce.
The new layout will differ from other Costco stores typically housed in warehouses.
Thrive Living and Costco said last year that they plan to hire residents and offer a job training program for the open positions.