One Beverly Hills tops out its Beverly Hilton expansion 10 weeks early

Crews on the 17.5-acre site have dug out upward of 834,000 cubic yards of soil, poured concrete totaling more than 105,000 cubic yards and set about 30 million pounds of rebar, according to the update as reported by Construction Review Online. All 335 geothermal wells are in, each roughly 600 feet deep, though the developer has not said how much energy they will supply. One of the two Aman-branded residential towers is running about six weeks ahead. Work started in February 2024 and went vertical in November 2025.

Five major contractors are on the job, the update says, without naming them or giving a schedule for each building. The City of Beverly Hills expects the project to be finished in 2028, with some parts opening sooner. The Beverly Hilton has stayed open through the work.

As of Sept. 30, principal outstanding was about $3.024 billion. Outside lenders and buyers of the project's Founder Bonds held about $1.597 billion. Security Benefit Life Insurance Co., an Eldridge affiliate, held about $1.427 billion: $1.329 billion of junior mezzanine debt and $98.2 million of senior construction debt. Those balances are a different measure from the $4.3 billion package announced in March, which paired a $2.8 billion senior loan led by JPMorgan with a $1.5 billion mezzanine loan led by VICI Properties. New National Association of Insurance Commissioners rules on capital held against certain insurer collateral loans are expected to affect reporting from Dec. 31, 2027. Eldridge says any cut in the insurer's exposure will not affect completion.

Next is a Nov. 10 public hearing on letting up to 44 residences be rented through an Aman-run program for stays as short as one night. Earlier approvals set a 180-day minimum, and the City Council moved the idea forward 4 to 0 on Oct. 20. About 25% of the retail space is leased.