BEVERLY HILLS—On November 3, 2022, the plans to develop the old Cheval Blanc Hotel on Rodeo Drive passed during the Beverly Hills City Council meeting. The petition is out, and they will finish gathering signatures for final approval of the development on February 3, 2023. The 38-month project is expected to be completed in 2026.
A copy of the petitions circulated by the Unite Here Local 11 labor union for service workers in Southern California and Arizona, and petitions targeting ordinances approving the zoning of the project and development agreement. According to Beverly Hills City Clerk, Huma Ahmed, she submitted both petitions to the Los Angeles County Registrar-Recorder’s Office, which has to certify the signatures.
It’s been two years since the announcement of the intent to redevelop the upscale property. The French conglomerate, LVMH secured approval from the BH City Council for The Cheval Blanc Development Project for the property along the south side of Little Santa Monica Boulevard between Rodeo and Beverly Hills Drives.
The buildings are to be embellished with limestone and will be built in conjunction with a pedestrian plaza between Rodeo Drive and Santa Monica Boulevard.
Plans for the building include 220,000 square feet of space to be utilized for restaurant space, 115 guest rooms and an exclusive club, designed by Architect Peter Marino and LA based Gruen Associate serving as the architect on record. The new property features a rooftop amenity deck.
Per a staff report from the City Council rooms at the Cheval Blanc are expected to have a daily rate of $1,167 for entry level rooms and up to $1,925 per night for those with additional amenities. There is a cost of $20,600 for rental of the penthouse.
LVMH will be required to make a $26 million payment to Beverly Hills. In addition, a $2 million donation for arts and cultural purposes. A .05 percent tax will be applied to all hotel rooms in addition to the standard transient occupancy tax of 14 percent.
