Former California Governor and Tinseltown action man, Arnold Schwarzenegger, has thrown his weight behind newly revealed plans for the One Beverly Hills project on Santa Monica Boulevard.
If approved, the massive US$2 billion development adjacent to the iconic Beverly Hilton hotel will feature the two tallest towers in the community, standing at 28 and 32 storeys, and a lower-rise 10-storey ultra-luxury hotel.
The entire complex would incorporate 340 residences, 42 all-suite guest rooms and feature over three hectares of native plant gardens comprised of palms, oaks, sycamores, succulents and willows spread across nine botanical gardens, accessible to the public, the LA Times reports.
The property near the intersection of Wilshire and Santa Monica boulevards is considered one of the most desirable real estate development sites in the United States and has been owned by investors from England, Mexico, Hong Kong, Singapore and China, the LA Times said.
That included the Beijing-based Dailan Wanda Group which was forced to offload the asset two years ago.
As an aside, Dailan Wanda Group also sold some of its property assets in Australia including The Jewel at Surfers Paradise (the hotel element of which will be The Langham, Gold Coast) and the similarly named trans-Pacific sister luxury hotel, One Circular Quay in Sydney. Both properties were acquired by Yuhu Group.
Back in California, Alagem Capital Group acquired the land where One Beverly Hills had been proposed and appointed the UK’s Norman Foster as its architect. Foster’s other landmark projects include the ‘Gherkin’ skyscraper in London and Apple’s hoop-shaped HQ in Cupertino, California, the LA Times said.
The hotel element will offer a fine-dining restaurant and 37 residential units.
Joining Schwarzenegger endorsing the project is another former California Governor, Gray Davis. In a statement, both said: “One Beverly Hills is exactly what we need to help kick-start our economic recovery.”
Should it get the go-ahead, Alagem is hopeful of beginning construction in late 2021.
The redevelopment would see the Beverly Hilton’s 181-room Oasis Tower raised and conference centre replaced with a modern facility complete with restaurants, shops and meeting space. The Beverly Hilton’s lobby and ballroom would also be upgraded and 36 rooms added to the poolside cabana inventory.
Alagem has earmarked a 2024 completion date for One Beverly Hills.
Lead image: Merv Griffin Way, Santa-Monica Boulevard | Photo credit: © DBOX for Alagem Captial Group