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Construction on One Beverly Hills, the $10 billion mixed-use, residential and ultra-luxury hospitality development in the Los Angeles enclave targeting high-net-worth individuals, has begun its ascent to heaven.
Cain International, the London-based investment management firm leading the project, said the construction’s first concrete pour was completed the weekend before Thanksgiving. Approximately 150 workers installed more than 3,800 yards of material in about 7 hours, according to an email sent to Construction Dive.
The milestone marked the transition from foundation work to buildings rising from the ground in what is perhaps America’s best-known zip code. the team started in 2024and work has included demolition, geothermal well drilling, utility and infrastructure installation and site preparation, according to a Nov. 25 news release from Cain.
The 17.5-acre project, located at Wilshire and Santa Monica boulevards, was previously valued at $5 billion. But Cain CEO Jonathan Goldstein has now doubled that projection to $10 billionaccording to the Los Angeles Times.
Aimed at ultra-high net worth individuals, the development will include two residential towers with less than 200 luxury condominiums from Switzerland’s Aman Group, as well as an Aman-branded hotel. Aman is a favorite of the rich and famous, according to the Times, including Bill Gates, Mark Zuckerberg and George and Amal Clooney.
New York City-based Turner Construction is leading the on-site construction and will oversee the procurement process for construction-related work, according to Cain. Turner will also manage outreach, education and support to include local and diverse businesses and workers on the job. Cain said the project will create more than 2,700 direct construction jobs.
In addition, Boston-based Suffolk Construction will build one of the Aman-branded residential towers, and Salt Lake City-based Layton will manage the other. PCL Construction, based in Edmonton, Canada, with its US headquarters in Denver, will lead the construction of the Aman Hotel.
In addition to the residential towers and hotels, Cain announced the addition of retailer Dolce&Gabbana as well as restaurants Casa Tua and Los Mochis to his project partners, an aspect he said will add to Beverly Hill’s celebrated shopping and dining culture.
Ten hectares of botanical gardens will join the Waldorf Astoria and the Beverly Hilton, site of the Golden Globes, which will also receive a redesign.
“Achieving vertical construction is a powerful moment for everyone involved in One Beverly Hills,” Goldstein said in the statement. “It reflects years of collaboration, planning and belief in what this place can become.”
Cain scheduled the phased delivery of the project by 2027, starting with residential towers and commercial spaces in Amman.
