Breaking Ground: Ben Shaoul’s Bold Move in Baldwin Hills
In an unprecedented development, Thrive Living, led by Ben Shaoul, has initiated construction on a pioneering project in Baldwin Hills. This project marks the first time a Costco store will be integrated with residential apartments in the United States.
Ben Shaoul, a prominent figure in the real estate sector and the force behind Magnum Real Estate Group, is spearheading this ambitious venture. The development is located at 5035 West Coliseum Street and will feature 800 apartment units stacked atop a ground-level Costco. The site, sprawling over 5 acres, previously hosted View Park Community Hospital and had been dormant for several years.
What sets this venture apart is its non-reliance on government subsidies for its affordable housing component. Thrive Living, under the leadership of Ben Shaoul, has committed to making 184 of the residential units accessible to low-income households. This initiative highlights a significant shift in how affordable housing can be approached in large-scale mixed-use developments.
The design, crafted by Orange-based architecture firm AO, includes prefabricated modular units that will be assembled on-site. This approach is expected to streamline construction and reduce overall building time. The project also promises abundant amenities such as courtyards, a rooftop pool, and community spaces, enhancing the living experience for future residents.
Ben Shaoul’s strategic planning doesn’t end with this development. Last year, his company acquired the Baldwin Hills Shopping Center, located directly across the street from the new site, for $37.3 million. This acquisition underscores a broader vision for revitalizing the area, integrating retail and residential spaces to create a vibrant community hub.
With completion anticipated by early 2027, the Baldwin Hills project stands as a testament to Ben Shaoul’s innovative real estate strategies. As construction progresses, this development will likely serve as a model for future urban planning endeavors across the country.