One Beverly Hills hotel and condo project has its latest starchitect

Beny Alagem and Cain International bought the property for $420M last year

May.May 03, 2019 01:00 PM
Beny Alagem, Norman Foster and a rendering of the site
Beny Alagem, Norman Foster and a rendering of the site

Hotelier Beny Alagem and partner Cain International have tapped a starchitect to design their One Beverly Hills mixed-use complex.

Norman Foster of Foster + Partners will create the planned luxury hotel and condominiums, according to Bloomberg. Now disgraced starchitect Richard Meier was the original designer of the complex.

Foster is best known for designing the Gherkin skyscraper in London, as well as the iconic Hearst Tower in New York City.

Alagem and Cain acquired the 750,000-square-foot spread from Dalian Wanda Group last fall, paying $420 million for the entitled piece of land at 9900 Wilshire Boulevard. Together, they also own the iconic Beverly Hilton and Waldorf Astoria Beverly Hills, located adjacent to the development site.

At the time Alagem and Cain acquired the development site, it was unclear whether they would proceed with China-based Wanda’s construction plans. One Beverly Hills — whose asking price was $1.2 billion before getting slashed — has permits for 193 condos, 134 hotel rooms and restaurants spread across two towers and public gardens.

Alagem and London-based Cain are approved to develop 1.6 million square feet, which would include expanding the Beverly Hilton property.

Meanwhile, Alagem has spent millions of dollars to try and build a Waldorf Astoria hotel and a pair of condo towers called the Waldorf Astoria Residences on the property of the Beverly Hilton. [Bloomberg] —Natalie Hoberman

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