Beverly Hills MXU Breaks Ground

The developers of One Beverly Hills held a ceremonial groundbreaking Thursday for the mixed-use project. With a final cost estimated between $4 billion and $5 billion, the condominium and hotel complex promises to transform the Beverly Hills skyline, reported the Los Angeles Times .

At the heart of the project will be two greenery-covered towers that are likely to be the tallest in Beverly Hills. Slated for completion in 2028, the 17.5-acre “urban resort” is intended to unify the neighboring Beverly Hilton and Waldorf Astoria hotels with condo high-rises, 8.5 acres of botanical gardens and the first ultra-deluxe Aman hotel on the West Coast, the Times reported .

One Beverly Hills is “one of the biggest projects in North America,” Jonathan Goldstein, chief executive of Cain International, told the Times . The London-based investment firm is overseeing the development with OKO Group, an international real estate development firm created by Aman founder Vlad Doronin, who called Beverly Hills “the natural next step for Aman as we continue our strategic growth into the world's finest urban centers .”