Beverly Hills Approved a Wave of New Towers. Why So Few Are Condos You Can Buy

Beverly Hills has approved more than a thousand new homes in high-rises that the city itself said it could not legally stop. The city's own filing with the state lists nearly all of those large projects as rental housing, and local reporting describes the rest as apartments. Most of the new supply will go to the rental market. New condos you can buy in Beverly Hills right now come from three branded buildings, and the least expensive of them starts in the millions.

For a buyer or investor looking at existing condos, that split determines where the new competition will come from.

One column in the city's state report

Each year California cities file an Annual Element Progress Report with the state housing department. Beverly Hills' 2025 report includes a table of housing applications with a column labeled "Tenure," coded R for renter and O for owner. Look down the list of big projects in the city's 2025 progress report and every one of them is marked R.

Wherever the table says "Renter" without a note, the label comes from the city's report. The Linden and Tower Drive projects do not appear in that report, so their tenure comes from Beverly Press. Together those ten projects add up to about 1,050 homes. The table also lists 401 N. Oakhurst Drive, an 11-story building the report classifies as renter housing, and several smaller apartment projects. Most of these buildings are planned along Olympic Boulevard, Burton Way and the blocks south of Wilshire, with a few in the residential grid north of it.

The owner-tenure entries in the same report point somewhere else entirely. One line covers a specific plan at 9900 Wilshire Boulevard with "2 new condominium towers with 340 units."

Why the towers are rentals

The builder's remedy wave began because Beverly Hills did not have a state-certified housing element until May 1, 2024. The Beverly Press explained that projects with preliminary applications filed before that date qualified under the builder's remedy provisions of the Housing Accountability Act. Those provisions let a qualifying project bypass local zoning when a city cannot make the specific findings state law requires for a denial. The 232 Tower Drive developer filed in October 2023.

Each of these projects reserves about one-fifth of its units for lower-income households, such as 21 of 105 at 9467 Olympic and 40 of 200 at 8844 Burton Way. The unit mix at 232 Tower Drive shows what these buildings are meant to be. The Beverly Press reported that the eight-story building will have 17 studios and 38 one-bedrooms, replacing an existing eight-unit apartment building. Its single-level garage will hold 13 parking spaces. That building is designed for renters.

City leaders have said plainly why they approved these projects. When the Council upheld the Tower Drive approval in July, Mayor Craig Corman told the Beverly Press, "If there was a legal ground to deny this, believe me I would take it." He added that a denial risked a lawsuit and the city's standing with the state housing department.

An approval is an entitlement, though, and buildings take longer. The latest reporting on these projects covers planning and council votes. None of it describes a groundbreaking yet. Several designs are also still shifting. The 9229 Wilshire developer has filed a revised 26-story, 195-home version, and Beverly Press has described a 36-story redesign of the Linden project.

Where the new condos actually are

New for-sale supply in Beverly Hills comes from three branded projects. They have few units, and every one of them is priced at the very top of the market.

Aman Residences at One Beverly Hills, 9900 Wilshire Blvd. The Real Deal reported on October 13, 2026 that the 17.5-acre project will include about 150 Aman-branded condos and is scheduled for completion in 2029. Prices start at $15 million, recent sales have topped $7,000 per square foot, and more than $1 billion in units are under contract or reserved. In July, a penthouse was reserved for $200 million, according to The Real Deal. The city's report describes the 9900 Wilshire specific plan as two condominium towers with 340 units. Neither source explains how that figure relates to the roughly 150 Aman condos.

Rosewood Residences Beverly Hills, 9900 S. Santa Monica Blvd. Nahla Capital and GPI Companies built this 17-residence building. The city's report records certificates of occupancy for its units dated June 30, 2025. At launch in May 2024, Urbanize LA reported prices of about $10 million to $45 million.

Mandarin Oriental Residences, 9200 Wilshire Blvd. This 54-residence building is complete. Sales relaunched in July 2025 under new owner Centurion Real Estate Partners, and the Mann Report said the reduced prices ran from $2.55 million for a one-bedroom to $6.25 million for a three-bedroom. Those are the latest published prices, and they are more than a year old.

These projects add up to about 220 residences, compared with roughly a thousand rentals in the builder's remedy pipeline. The lowest published price for a new condo is in the mid-$2 millions, and the newest project starts at $15 million.

The friction inside the newest contracts

Buying a condo before it is built has always meant waiting. At One Beverly Hills, buyers may also be asked to lend money to the developer. The Real Deal, summarizing The Wall Street Journal's reporting, said Cain is selling optional "Founder Bonds" to condo buyers at a 5 percent return. The bonds have become part of the deal for buyers so far.

According to the same report, the bonds rank behind a $2.8 billion senior loan led by J.P. Morgan and a $1.5 billion mezzanine loan from Vici Properties. If the project ran into trouble before completion, buyers could lose both the home they expected and the money they lent. Sources cited by the Journal said Cain has the capital to finish without the bond money and that the proceeds would replace part of Cain's own equity. Resale condos don't come with this kind of decision, and it is one more way new construction differs from existing inventory here.

What this means for a resale condo between $1 million and $5 million

The supply story divides the market into three parts.

1. Buyers. Most new construction in Beverly Hills does not compete with an existing two-bedroom on a residential street. The branded projects mostly sell well above that range. The towers are rentals, so they won't add for-sale listings in that price band.
2. Investors. If you buy a condo to rent out, the builder's remedy towers compete with you directly. Studios and one-bedrooms like those planned at 232 Tower Drive will compete for the same tenants as a small condo leased in the same part of the city. That competition begins when the buildings open, and none has yet been reported under construction.
3. Owners near the sites. A condo near Olympic Boulevard, Burton Way or the south-of-Wilshire blocks may end up next to an eight- to 26-story building. Views, street parking and years of construction nearby are building-specific questions to look into before you make an offer.

The broader market adds context without changing the picture. The Real Deal reported that Los Angeles condo sales through August 2026 were lower than in any year since 2012. Statewide, the California Association of Realtors put the August 2026 median for condos and townhomes at $640,000, down 1.5% from August 2025, with 4.7 months of unsold inventory compared with 4.4 a year earlier. Sales are slow, and new buildings aren't the reason.

SB 79 puts the next wave near La Cienega

State transit housing law adds another layer. SB 79 took effect July 1, 2026. It raises the allowed density, floor area and height near qualifying transit stops, and Beverly Hills has two of them. One is at Wilshire and La Cienega and the other at Wilshire and Reeves Drive.

The city responded with an alternative plan under Ordinance 26-O-2936. It moves that added capacity off single-family parcels near both stations. The capacity goes to Mixed Use Overlay Zone sites within 200 feet of the La Cienega station that are not directly next to single-family zones. The plan took effect July 1. The Council extended it on July 21, and the state housing department's review was still pending at that point.

The Beverly Hills segment of the D Line, including Beverly Drive Station, is expected to open in spring 2027, according to the Beverly Press. For a condo near La Cienega, the station opening and the city's choice of where to send new density are closely tied.

Quick answers

Are any of the builder's remedy towers condos? The city's 2025 progress report lists every large builder's remedy project it includes as renter housing. Beverly Press describes 232 Tower Drive and the Linden project as apartments.

What's the newest Beverly Hills condo you can move into now? Rosewood Residences at 9900 S. Santa Monica Blvd. received certificates of occupancy in June 2025, and Mandarin Oriental Residences at 9200 Wilshire was described as ready for immediate occupancy when sales relaunched.

Does SB 79 allow towers on single-family streets near the stations? Under the city's alternative plan, added capacity goes to mixed-use sites near La Cienega instead. That plan is still under state review, so read the ordinance text for the details.

This post is general information, not legal, tax or financial advice. Confirm how any law, bond offering or contract applies to you with a qualified attorney, tax professional or financial advisor.

If you'd like to know which Beverly Hills condo buildings sit close to an approved tower, or which are set apart from the new rental pipeline, Danny Hizami can go through the approved sites with you building by building before you write an offer. Start Your Home Search when you're ready, and bring your questions about the projects in this post.