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One Beverly Hills Reaches Milestones Ahead of Schedule
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The Beverly Hilton,” according to an update from Eldridge, lead developer Cain and finance partner Security Benefit.
“1BH is an extraordinary project, and we are proud of the tremendous progress made by Cain and our partners, including Aman,” said Todd Boehly, chairman and CEO of Eldridge. “We feel it is an appropriate time to provide an update for interested parties, particularly since 1BH has financing provided by Eldridge and Security Benefit, including through Security Benefit’s collateral loan program, as well as substantial third-party financing.”
Boehly added that the Beverly Hills City Council recently advanced a proposal to allow 1BH residences to be rented for short-term stays.
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