JULY 18, 2018|
Wanda Group Seeks to Sell 9900 Wilshire in a Top U.S. Hotel Market Amid Competing Development
When Dalian Wanda Group Co. Ltd. bought an eight-acre property on a prime stretch of Beverly Hills’ Wilshire Boulevard, the Chinese commercial real estate and cinema conglomerate envisioned building a $1.2 billion, 5-Star hotel and condominium development that was ambitiously upscale, even by Beverly Hills standards.
But four years later, the site at 9900 Wilshire Blvd. remains a dirt hole between the Los Angeles Country Club and the iconic Beverly Hilton hotel in one of the country’s top hotel markets.
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After years of false starts, One Beverly Hills—formerly 9900 Wilshire—seems ready to break ground in early 2017
The project at the old Robinsons-May department store site in Beverly Hills, formerly known as 9900 Wilshire, has undergone some big changes since its new owners, China-based Wanda Group, bought it in 2014. (The department store building was demolished about two years ago, before Wanda bought the site.) Last year, Wanda announced plans to swap out some of the condos in the long-gestating plan—designed by starchitect Richard Meier—and throw in a five-star hotel instead.
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