One Beverly Hills, a massive, $5 billion redevelopment doubling down on the opulent lifestyle of Beverly Hills, is on track to open in the spring of 2028.
The mixed-used project, with hotels, condominiums, retailers and restaurants and even a botanical garden, is anticipated to generate an estimated $40 billion in local economic impact over the next 30 years, including $9 billion in new spending, as well as 2,700 construction jobs and more than $100 million in public benefit fees.
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“One Beverly Hills will have a huge impact not just on Beverly Hills, but on the Los Angeles metropolitan area and California,” said Brent Habeck, executive vice president of commercial leasing for Cain, the London-based private investment firm focused on real estate and lifestyle businesses, and primary developer of One Beverly Hills.
Spanning 17.5 acres between Wilshire Boulevard and Santa Monica Boulevard in Beverly Hills, One Beverly Hills will include:
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A 10-story Aman Beverly Hills hotel, the brand’s first U.S. West Coast property, with 78 suites and a 100,000-square-foot private club.
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A remodeled Beverly Hilton Hotel.
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Two luxury condominium towers rising to 412 feet and 453 feet.
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200,000 square feet of dining, retail, entertainment and health and wellness formats within an 8.5 acre botanical garden.
“We will open the retail all at one time in spring of 2028, intentionally, to insure the success of all components,” said Habeck.
Habeck said the retail component of One Beverly Hills is about 40 percent leased. Among the tenants coming in is Dolce & Gabbana. It will be the Italian fashion brand’s second store in Beverly Hills, the first being on Rodeo Drive. (Dolce & Gabbana also has a store about two miles away in the Beverly Center, in Los Angeles near Beverly Hills.) The first Casa Tua Cucina location on the West Coast will open with a 20,000-square-foot Italian kitchen and marketplace combining different dining stations, a wine bar, and curated retail. And Los Mochis, the gluten- and nut-free health-conscious restaurant for Mexican-Japanese fusion cuisine, will make its U.S. debut at One Beverly Hills. Los Mochis will offer multiple dining experiences, indoor and outdoor settings, a “secret” garden, a Mexican-Japanese omakase, and a late-night agaveria.
About 60 percent of the retail component is expected to be occupied by stores; 25 percent by dining experiences, and 15 percent by health and wellness.
The project, located just three-quarters of a mile from Rodeo Drive, is on the site of a former Robinsons-May department store, which was torn down in 2014. Cain, formerly known as Cain International, took control of the site in 2018.
While luxury has been undergoing a global slump, the demand for luxury brands seeking footholds in Beverly Hills — famous for its high-end shopping, celebrities, mansions and world-class hotels — maintains what Habeck characterized as “a huge demand from luxury brands that cannot find space on Rodeo Drive, which is very constrained.”
The real estate executive said Rodeo Drive, which is just three blocks long extending from Wilshire to Santa Monica boulevards, is 99 percent leased. Within the last couple of months, Dior, Pomellato and Louis Vuitton opened new stores on Rodeo.
Dolce & Gabbana’s decision to open a second location in the area, at One Beverly Hills, is “a strong testament to the strength of the Beverly Hills market,” Habeck said. “It’s one of the wealthiest markets on the planet. We see the demand.”
While acknowledging the luxury slump, Habeck did sound a positive note on the future. “Retail reinvents itself. It has for generations. That’s what makes it interesting,” he said. “There’s a reinvigoration, a new excitement that’s been coming out of Milan and Paris this season with new creative directors and designers. I’ve seen the fashion shows.”
The intent with One Beverly Hills, particularly with the planned botanical gardens, is to create “our own ecosystem on a campus,” Habeck said. The intent is to create a different experience, one that’s unique and distinct from Rodeo Drive and other sections of Los Angeles, he added.
“Foster + Partners is a pre-eminent architectural firm and the master planner of the project,” Habeck said. “With them, we have to insure the brands [maintain] their own identity and reinforce the architecture of the overall project.”
For the botanical gardens and open spaces, the landscape architect RIOS has curated over 200 species of California native plants and trees including palms, oaks, sycamores and succulents to be integrated throughout the gardens, according to the One Beverly Hills website. Four acres of it will be just for residents, club members and hotel guests at One Beverly Hills. The other 4.5 acres will be open to the public.
Habeck explained that Cain is invested in One Beverly Hills in multiple ways, including owning the Beverly Hilton Hotel and the Aman residential towers and hotel. Cain is an investor in the Aman operating company.
Cain is a vertically integrated investment firm spanning real estate and private equity, with $13.8 billion in equity assets under management globally as of June 2025. In real estate, Cain manages a diversified portfolio and deploys capital. The firm has expertise across hospitality, industrial and logistics, net lease, and residential-led developments. It also has a private equity platform focused on investments in businesses and brands across the lifestyle and entertainment sectors.
Cain is a partnership between Jonathan Goldstein, cofounder and chief executive officer, and Eldridge Industries. Among its assets (aside from One Beverly Hills) are the Delano Hotel in South Beach, Miami; the 830 Brickell office building in Miami, and 125 West 57th Street, an office property in Manhattan. In addition, Cain is in the process of acquiring a hotel in the SoHo section of Manhattan.
“With Aman Beverly Hills and The Beverly Hilton at its foundation, One Beverly Hills will bring together some of the world’s most exciting brands and experiences,” Goldstein said in a statement. “We are delighted to welcome Dolce & Gabbana, Casa Tua, and Los Mochis, as we aim to set a new benchmark for urban design, where luxury, lifestyle, wellness, and nature converge.”
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