Note: The video in the media player above is from a previous report.
Developer Thrive Living plans to use a five-acre site in the Baldwin Village neighborhood in South Los Angeles to build 5035 Coliseum - a mixed-use complex that features the members-only warehouse store and residential rental units.
The retail-housing project will feature 800 apartment units above the new Costco.
A total of 184 units will be set aside for low-income tenants, according to the developer. The remaining units will be offered as non-subsidized affordable and workforce housing.
Thrive Living says that the new state-of-the art Costco will have fresh produce, healthy food options, optical services, a pharmacy and delivery services to help local businesses.
"5035 Coliseum is the first new housing community in Los Angeles to move forward under state law AB 2011, which helps streamline approvals for apartment and mixed-use projects that include low-income housing," Thrive Living said in a press release.
The project is the first mixed-use development in the country to have Costco as its anchor retail tenant.
L.A. Mayor Karen Bass and Councilmember Heather Hutt will be among those attending the groundbreaking ceremony Wednesday morning.