Beverly Hills’ $10B Makeover: One Beverly Hills, Big Bets & Policy Battles
- Odysseas Lamprianidis
- Nov 19
- 3 min read
You thought Beverly Hills was already bougie?
Think again.
A $10 billion mega-project called One Beverly Hills is rising right at the city’s glitzy gateway—bringing with it Aman-branded towers, botanical gardens, and a whole lot of drama.
It’s not just another luxury development.
It’s a masterclass in how money, policy, and design intersect in modern real estate.
Let’s take a walk down Wilshire—and into the future.
30-Second Answer
One Beverly Hills is a 17.5-acre ultra-luxury mixed-use development bordered by Wilshire Blvd, Santa Monica Blvd, and the Los Angeles Country Club.
It will include two residential towers, an Aman hotel and branded residences, over 8 acres of botanical gardens, and a sleek retail/dining hub.
With Turner Construction managing Phase 1, VICI Properties investing $300M, and the City of Beverly Hills floating a possible $550M bond, this project isn’t just real estate—it’s urban evolution with a fragrance of jasmine and a side of foie gras.
The Vision: More Than Just High-Rises
Developed by Cain International and OKO Group, the project is designed by Foster + Partners (yes, those starchitects).
It's one of the largest projects ever approved in Beverly Hills.
Includes 303 residential units, a 42-suite Aman hotel, 30,000+ sq ft of retail, and massive green infrastructure.
What makes it different?
They’re blending ultra-luxury living with public botanical space—trying to redefine what “mixed-use” means in a city not known for change.
Garden State of Mind
The most Instagrammed part might not be the condos—it’ll be the gardens.
Over 8 acres will be devoted to botanical gardens, walking paths, and open space.
Think: Rodeo Drive meets Singapore’s Gardens by the Bay.
It’s a strategic move. Developers are betting that nature sells, and luxury buyers will pay more for green—even if it’s curated.
The Money Trail
The numbers are stacked high:
VICI Properties is investing $300M in mezzanine financing.
The city is exploring $550 million in bond funding to support public improvements tied to the project.
Some estimates peg the final price tag at $10 billion, depending on valuation and luxury branding premiums.
Financing this beast isn’t just about bank loans—it’s about political alignment, tax revenue promises, and very strategic timing.
Projects like these are rare, but if you want to see how creative financing looks in practice, check out 25 Water Street, the largest office-to-residential conversion in U.S. history.
Policy Maneuvers & Public Give-Backs
Let’s talk incentives, waivers, and public-private handshake deals:
The project avoids standard affordable housing requirements by paying the city $100M in lieu.
Hotel guests will pay a 5% surcharge, and real estate sales get 2–3% transaction fees dedicated to city funds.
Bond-backed infrastructure would fund pedestrian-friendly improvements around the site.
Compare this with global trends like India’s “shelter fee” and land price controls—very different takes on developer obligations.
But Wait, There's Backlash
This is Beverly Hills—people will complain.
Critics cite:
Increased traffic congestion along Wilshire and SM Blvd.
Concerns about exclusivity and lack of “real” public access.
Environmental impact of large-scale excavation near a densely built area.
But here’s the rub: Beverly Hills approved the project in 2021 and hasn’t looked back. It’s all systems go—no NIMBYs, no hesitations.
Actionable Takeaways
Developers: Botanical gardens are the new rooftop pools. Amenity-forward design is king.
Cities: Don’t sleep on using surcharge structures and land deals for long-term public revenue.
Investors: Keep an eye on branded residences. Aman is not just a hotel—it’s a real estate pricing engine.
Policy watchers: Big projects now require clever negotiation, not just permits and checklists.
Why It Matters
One Beverly Hills isn’t just another development—it’s a litmus test for luxury urbanism in Southern California.
It blends design, finance, brand power, and local policy in ways that could reshape how every SoCal city approaches its gateway corridors.
If you're building anything with entitlements, green space, or branding layered in, this is your case study.
Need help figuring out how this kind of mega-project model affects your development approach?
-- Odysseas Lamprianidis
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