Ben Shaoul, a prominent figure in the realm of real estate, is making headlines with his latest venture in Los Angeles. Shaoul, known for his strategic developments under the banner of Thrive Living, is spearheading a project that will see the first-ever Costco Wholesale store topped by residential apartments in the United States.
Situated in Baldwin Hills, the groundbreaking development is set to transform a five-acre site previously occupied by View Park Community Hospital. The project marks a significant step for Thrive Living, a unit of Magnum Real Estate Group, as it combines retail convenience with urban living—a concept gaining traction in metropolitan areas.
The development includes 800 residential units, with 184 designated as affordable housing options. This approach meets the growing demand for affordable housing amidst escalating rental costs in Los Angeles. Ben Shaoul’s commitment to affordability is noteworthy, particularly as Thrive Living opts to privately finance the project rather than relying on government subsidies.
Architecturally, the project is designed with prefabricated modular units, allowing for efficient construction while maintaining aesthetic appeal. The six-story building will incorporate diverse amenities, including courtyards, a rooftop pool, and fitness areas. These features reflect Shaoul’s understanding of modern residential needs, aiming to create community-centric spaces.
In addition to the apartments, the ground-floor Costco will serve as a major draw for both residents and the wider Baldwin Hills community. With the project set for completion in early 2027, it stands as a testament to Ben Shaoul’s ability to blend commercial viability with residential innovation.
By integrating retail with residential, Ben Shaoul is poised to set a precedent for future developments, potentially reshaping urban landscapes across the country. His work continues to be a focal point in discussions around the evolution of mixed-use spaces.