Jonathan Goldstein, Beny Alagem and Vlad Doronin

In times of economic uncertainty, developers with a big, grand plan have the advantage of keeping their heads down and focusing while the rest of the world fusses and frets.

Beny Alagem of Alagem Capital Group, Jonathan Goldstein of Cain International and Vlad Doronin of OKO Group have one such project they’re focused on — One Beverly Hills — “a generational opportunity to redesign, redevelop and reimagine Beverly Hills,” as Goldstein put it. The project is slated for completion in late 2027 or early 2028.

“We started to emerge from below ground sometime earlier this year,” said Goldstein over a Zoom. “There’s a lot of groundwork to lay — a three-story basement, with a car park, and the other facilities underground.”

What eventually emerges promises to be much more impressive: luxury condos, 150,000 square feet of retail, 600 hotel rooms split between a Beverly Hilton and a Waldorf Astoria, an Aman club, and 10 acres of botanical gardens and open space (approximately half of which will be for the private use of Aman guests).

The partners are somewhat tight-lipped about the exact number of condo units they’re building (they’re approved for 200 but a representative for the project says they’re planning on building significantly fewer and 69 have been released) or the price point, but the numbers bandied about (in excess of $7,000 per square foot, according to sources) are jaw-dropping.

“We gave priority to our loyal guests — Amanjunkies, as they call themselves — and began sales of the Aman-branded residences only a few months ago, which resulted in a very successful pre-sell,” said Doronin via email. (Doronin is also the CEO of Aman.)

Goldstein is likewise discreet when it comes to the retail tenants that have been talking about taking space, but “some of the best brands from Rodeo Drive” have been in talks about satellite locations at One Beverly Hills.

To give some sense of the scale of the project, Commercial Observer reported earlier this year that the developers were on the hunt for $5.25 billion in financing to finish the behemoth. (This would retire the $2 billion that they already have in place from J.P. Morgan Chase.)

Moreover, Goldstein and Doronin are extremely active in South Florida as well. They partnered on the 830 Brickell office tower, and Cain is at work revamping the Delano South Beach hotel and Una Residences in Miami, and OKO is redeveloping the Versailles Hotel into an Aman property.