Ground has been broken for One Beverly Hills, a condominium and hotel project set to redefine the iconic Beverly Hills skyline while asserting its prominence along the city’s western perimeter. With an estimated investment of close to $2 billion, this project is poised to leave a lasting imprint on the region’s architectural landscape.
Groundbreaking Ceremony for One Beverly Hills Project
The groundbreaking ceremony for this expansive development, situated on 17.5 acres between the Beverly Hilton and Waldorf Astoria Beverly Hills, took place on Feb. 8, much to the delight of project executives, city officials, and numerous guests in attendance.
Anticipated Completion and Project Highlights
Upon its anticipated completion within the next two to four years, the project will boast a 10-acre botanical garden, two residential towers, and an Aman Group hotel. Landscape architect, Rios carefully selected, over 200 types of water-wise plants and trees that are native to California. These will be planted in the gardens with four acres dedicated exclusively to Aman residents, club members, and hotel guests. The remaining five acres will be accessible, to the public.
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Mayor’s Endorsement and Visionary Collaboration
“I have belief, in the foresight of Beny Alagem, the vision of Lord Norman Foster, and the dedicated efforts of the entire team who have successfully merged these two iconic properties to create a truly remarkable new entity. It reflects the values of our city “expressed Mayor Dr. Julian Gold.”Located on the border of Beverly Hills visitors will immediately be embraced by the beauty and luxury that defines this city. I am confident that the One Beverly project marks a milestone in our city’s history.”
Overview of One Beverly Hills Development
Once finished One Beverly Hills will boast 255 condominiums, 78 hotel suites, and 30,000 square feet of space. Two residential towers standing at heights of 31 and 28 stories respectively will become Beverly Hills’ tallest buildings. Additionally, this project includes a renovation plan, for the Beverly Hilton.
One Beverly Hills project partners
The project is being spearheaded by Cain International in collaboration, with OKO Group and Alagem Capital continues to be a partner in this endeavor. Beny Alagem, Chairman and CEO of Alagem Capital addressed the audience during the groundbreaking ceremony outlining a visionary plan for One Beverly Hills that spans over two decades. He expressed his excitement about the future of the area as it transforms into a hub for living, working, dining, and relaxation amidst gardens. This marks a moment, for both Beverly Hills as a city and its residents alike.
Masterminds Behind the Design: Foster + Partners and Kerry Hill Architects
The architectural firm Foster + Partners led by the architect Lord Norman Robert Foster is overseeing the design of the building. The Aman designs are being developed by Kerry Hill Architects. Lord Norman Robert Foster is well known for his work, on structures like The Gherkin in London and Apples corporate headquarters, in Cupertino.
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One Beverly Hills property acquisition
Cain and Alagem became the owners of the One Beverly Hills property in 2018 following its sale, by conglomerate Dalian Wanda, for a sum exceeding $420 million. According to Todd Boehly CEO of Eldridge Industries, both companies made attempts to acquire the property over several years before Wanda ultimately relinquished control.
One Beverly Hills project to create hundreds of jobs
The project will create, over 2,700 job opportunities in construction for the region through the collaboration of Turner Construction, Cain Development, and OKO Group. Turner will be responsible, for managing construction contracts. Will also offer outreach and engagement services to involve a diverse range of local businesses and job seekers at the project site.
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