One Beverly Hills Project to Transform Beverly Hills with $5 Billion Redevelopment

What's Happening?

One Beverly Hills, a $5 billion redevelopment project, is set to open in spring 2028 in Beverly Hills, California. The mixed-use development will include hotels, condominiums, retailers, restaurants, and a botanical garden, spanning 17.5 acres between Wilshire Boulevard and Santa Monica Boulevard. The project is expected to generate $40 billion in local economic impact over the next 30 years, including $9 billion in new spending, 2,700 construction jobs, and over $100 million in public benefit fees. The development will feature a 10-story Aman Beverly Hills hotel, luxury condominium towers, and a variety of dining and retail options. The site was previously occupied by a Robinsons-May department store, which was demolished in 2014.

Why It's Important?

The One Beverly Hills project is significant for the local economy and the luxury retail market. It aims to address the high demand for luxury retail space in Beverly Hills, where Rodeo Drive is nearly fully leased. The development will provide new opportunities for luxury brands to establish a presence in one of the wealthiest markets globally. Additionally, the project is expected to boost employment and economic activity in the Los Angeles metropolitan area. The inclusion of botanical gardens and open spaces reflects a trend towards integrating nature and wellness into urban developments, potentially setting a new standard for luxury lifestyle projects.

What's Next?

The retail component of One Beverly Hills is about 40 percent leased, with tenants like Dolce & Gabbana and Casa Tua Cucina. The project will open all retail components simultaneously in spring 2028 to ensure the success of all elements. The development is expected to attract more luxury brands and upscale dining experiences, further enhancing Beverly Hills' reputation as a premier destination for luxury shopping and lifestyle. The project's completion will likely influence future urban development projects in the region, emphasizing integrated lifestyle and wellness features.

Beyond the Headlines

The One Beverly Hills project highlights the ongoing evolution of retail and urban development, particularly in luxury markets. Despite a global slump in luxury retail, Beverly Hills remains a sought-after location for high-end brands. The project's focus on creating a unique ecosystem with botanical gardens and diverse dining options reflects a shift towards experiential retail and lifestyle offerings. This approach may influence future developments in other luxury markets, emphasizing the importance of creating distinctive and immersive experiences for consumers.