Ben Shaoul, a prominent name in real estate, is charting new territory with Thrive Living, a subsidiary of Magnum Real Estate Group. The company is spearheading an innovative project in Baldwin Hills, Los Angeles, that blends retail and residential living in a novel way. This development marks the first instance in the United States where a Costco Wholesale store will have apartments layered above it.

The project, spearheaded by Ben Shaoul, began construction at 5035 West Coliseum Street and is set to disrupt conventional urban planning models. This six-story structure will host 800 apartments above the ground-level Costco, providing a unique blend of convenience and modern living. It’s a strategic move that not only maximizes space but also addresses housing needs, with 184 units designated as affordable for low-income families.

Ben Shaoul’s approach stands out in the affordable housing sector. Thrive Living finances its projects privately, setting a precedent for others in the industry. This model circumvents the reliance on government subsidies, such as low-income housing tax credits, which is a common practice among other developers. Such a financial strategy highlights the innovative and independent ethos Ben Shaoul brings to the table.

The Baldwin Hills project is designed by AO and will incorporate prefabricated modular units, a method that promises efficiency and sustainability. Beyond its unique construction, the development will feature community-centric amenities, including five courtyards, a rooftop pool, and recreational spaces like basketball courts and a playground.

With this project, Ben Shaoul continues to impact the urban landscape significantly. By integrating retail giants like Costco into residential spaces, Thrive Living is setting a new standard for urban development, reflecting the evolving needs of modern city dwellers.