Beny Alagem spent $2M in less than three months on condo tower initiative

If spending continues at this rate, developer will have shelled out $1,000 per vote

Oct.October 13, 2016 08:45 AM

If his spending spree continues at its current rate, Beny Alagem will have spent $1,000 per vote to build a condo tower in Beverly Hills by the time the project appears on the ballot.

Between July 1 and Sept. 24, a coalition that is funded primarily by the developer’s firm, Oasis West Realty, spent over $2 million on expenses related to his Beverly Hills Garden & Open Space Initiative, the Beverly Hills Weekly reported.

An 83-page campaign disclosure form shows the campaign paid over $76,000 to PR firm Sugerman Communications Group and $40,000 to American International Business, a computer storage manufacturer founded by former Beverly Hills Mayor Jimmy Delshad.

Alagem has been locked in an ongoing dispute with competing developer Wanda Group, which wants to build its own 134-key hotel and 193-condo complex right next door to Alagem’s site.

Wanda is waging an opposition campaign to Alagem’s called “No on HH,” highlighting that Alagem’s initiative would allow his condo project to bypass the city’s typical planning review process to build the tallest building in the city.

The Alagem camp, in turn, alleged that Wanda, a Chinese company, was illegally funneling money oppose the initiative. California’s Fair Political Practices Commission rejected that allegation in a letter to Alagem’s attorney Gary Winuk. Oasis has also been fighting Wanda’s project as it goes through planning hearings, specifically taking issue with a loading dock near Alagem’s site.

“We found no evidence that the contributor is a foreign principal,” wrote Galena West, the chief of the Commission’s enforcement division. [BH Weekly]Cathaleen Chen

Related Articles

Four of the top residential listings in LA this week

Here are the priciest resi listings in LA County last week

Larry King and Shawn Southwick

Larry King is saying “so long” to Beverly Hills Flats mansion

The top five listings of the last seven days

Here are the priciest resi listings in LA County last week

Late Microsoft cofounder Paul G. Allen and the property (Credit: Redfin and Getty Images)

The late Paul Allen’s 120-acre plot of land in Beverly Hills gets a massive price chop. Sound familiar?

Bilgili Development’s Serdar Bilgili and Michael Shvo with a rendering of 9200 Wilshire Boulevard (credit: Getty Images and MVE Architects)

Michael Shvo and partners snag $190M construction loan for Beverly Hills condo project

Clockwise from top left: 1155 Angelo Drive, 1116 Laurel Way, 613 N. Sierra Drive, 32453 Pacific Coast Highway and 705 N. Arden Drive (Credit: Redfin)

Beverly Hills dominates list of top resi sales in LA County last week

Clockwise from top left: 12921 Marlboro Street, 22102 Pacific Coast Highway, 21536 Pacific Coast Highway, 820 N. Roxbury Drive and 334 S. Burlingame Avenue (Credit: Redfin)

Here are the priciest resi listings in LA County last week

2571 Wallingford Drive in Beverly HIlls (Credit: iStock)

Gala Asher’s Wallingford Estate in Beverly Hills just got a $25M price slash