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Though researchers in criminology and sociology often make reference to the importance of third places for the development of social cohesion, very little empirical research has tested this claim. As cohesion is salient to individual- and community-level outcomes including the informal control of crime, it is crucial to understand how facets of the neighborhood ecology facilitate or impede its development. The present study seeks to fill this gap, and further examines how the effects of third places might vary according to neighborhood context. Our central hypothesis is that third places will be associated with higher levels of social cohesion, and that this relationship will be mediated by increased social interaction and familiarity. With regards to neighborhood contexts, third places in low-income neighborhoods characterized by low use-value should only attract residents of the neighborhood and will thus be more consequential for the development of social cohesion. Third places in higher-income contexts with greater use-value should attract outsiders, increasing anonymity and either weakening or reversing the effect of third places on cohesion. We test these hypotheses using a unique data set that combines responses from Wave I of the Los Angeles Family and Neighborhood Survey (LAFANS) with geocoded business data from ReferenceUSA.