The development team behind One Beverly Hills reports that construction on the $10 billion luxury mixed-use project is running ahead of its original schedule. An update from Eldridge, together with lead developer Cain and finance partner Security Benefit, notes that the expansion structure for The Beverly Hilton component has topped out approximately 10 weeks earlier than planned. One of the project’s residential towers is also progressing ahead of expectations, with work reported to be about six weeks in front of the initial timeline.
According to the update, construction milestones have been reached while significant operations continued at The Beverly Hilton throughout the build, indicating that development activity has been coordinated around an active hospitality environment. The parties highlighted the ability to maintain hotel operations as a key element of the project’s execution to date.
Todd Boehly, chairman and CEO of Eldridge, characterized One Beverly Hills, also referred to as 1BH, as an extraordinary project and emphasized the amount of progress achieved by Cain and the broader partnership group, including Aman. He said the team viewed the current stage of construction as an appropriate point to provide more detail for interested stakeholders.
Boehly noted that One Beverly Hills is supported by financing from Eldridge and Security Benefit. That capital stack includes funding provided through Security Benefit’s collateral loan program, alongside what was described as substantial third-party financing. The structure underscores the mix of sponsor-provided capital and external funding sources backing the large-scale development effort.
On the policy front, Boehly pointed out that the Beverly Hills City Council has recently advanced a proposal that would permit One Beverly Hills residences to be rented for short-term stays. While the measure is still moving through the local process, the step signals evolving regulatory consideration around how the residential component of the project may ultimately be used and positioned once completed.
Overall, the update signals that One Beverly Hills is currently tracking ahead of its construction timetable, with key structural elements for both the hotel expansion and at least one residential tower outpacing prior expectations. With financing in place from Eldridge, Security Benefit, and additional third-party sources, and with local policymakers weighing potential short-term rental permissions, the project continues to move forward as a major luxury mixed-use development anchored by The Beverly Hilton.
