Beverly Hills is no stranger to opulence. But even by California’s gold-plated standards, the city is about to test the upper limits of luxury with a $10 billion mega-development that’s reshaping its skyline and retail corridor.

Welcome to One Beverly Hills — a 17.5-acre transformation at the gateway to Rodeo Drive. This is more than a project. It’s a statement — one of the most expensive private real estate developments currently under construction in the United States.

A New Benchmark for Luxury Mixed-Use

One Beverly Hills is designed as an integrated ecosystem of ultra-high-end hospitality, retail, and residences. Anchoring the project is Aman Beverly Hills, the iconic brand’s first West Coast location, which will feature:

A 78-suite Aman hotel Two branded residential towers with fewer than 200 condos Pricing that starts around $20 million and climbs beyond $40 million Private pools, expansive balconies, and access to an exclusive Aman private club with spa, restaurants, and social venues

Early results confirm strong demand: the first residential tower is already approaching $1 billion in contracted sales and commitments.

Luxury Retail Expansion in a Supply-Constrained Market

The retail component is just as ambitious — nearly 200,000 square feet of designer shops and high-end dining, bringing 45 new luxury boutiques and restaurants to Beverly Hills.

Leasing momentum is strong, with 40% of space already committed. Early tenants include Dolce & Gabbana, which will add a second Beverly Hills store here, and international dining brands like Casa Tua Cucina and Los Mochis, blending global culinary experiences with a local luxury clientele.

The appeal is clear: Rodeo Drive is 99% leased with rents averaging $1,000 per square foot, among the highest in the nation. For brands that can’t find or afford traditional space, One Beverly Hills offers proximity to the world’s most elite retail strip — with less congestion and easier access for local residents.

Designed for the Next Era of Urban Luxury

Beyond the glass and stone, One Beverly Hills is also an environmental statement. Nearly 10 acres of botanical gardens and open space will frame the development, with half open to the public.

Fire-resistant materials, advanced sustainability systems, and on-site water storage reflect a forward-looking approach to climate resilience — critical as developers across California face growing scrutiny on environmental design.

Backed by JPMorgan Chase and Vici Properties, the project’s gross development value exceeds $10 billion. Construction began in early 2024 and is on track for completion ahead of the 2028 Los Angeles Olympics.

Beverly Hills at an Inflection Point

This project underscores a larger trend: the evolution of luxury markets into curated, self-contained ecosystems. Cities like Beverly Hills, already home to some of the world’s most valuable retail, are doubling down on destination living — blending hospitality, wellness, retail, and residential into a single experience.

With Rodeo Drive fully leased, global capital flowing into branded residences, and demand for trophy assets outpacing supply, One Beverly Hills could become a blueprint for the next generation of high-end urban development.

For investors, developers, and luxury market watchers, this is one to follow closely. When Beverly Hills makes a $10 billion bet on the future of luxury, the rest of the market takes notice.