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Richard Meier Condos Are Actually Happening in Beverly Hills

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The big fancy mixed-use project slated for the site of the old Robinson's May building in Beverly Hills near Wilshire and Santa Monica Boulevard has been in the works since at least 2007, and the property has sold so many times since then that it seems impossible that the original plans for a complex designed by starchitect Richard Meier (who designed the Getty Center) could still be on the table. And yet! News came through early last month that China's biggest commercial developer, Wanda Group, had purchased the 9900 Wilshire site, but without revealing what they would do with it (or how much they paid). Today, via the LA Times, we find out that, yes, finally, Wanda plans to build Meier's plans for two-mid-rise condo towers (14 to 16 stories), with work slated to begin next year. The plans call for 235 units and about 21,000 square feet of street-level retail, with 876 underground parking spots.

Estimates at the time of the sale said the property would fetch about $300 million, but according to sources with knowledge of the sale, the magic number was actually $420 million. There were multiple offers, which definitely worked in seller Joint Treasure Ltd.'s favor, and the 9900 Wilshire site is a fat eight acres. Wanda Group has said it hopes to break ground next year on the development. The property was cleared of the classy old Robinsons-May Building in late July.

Here's the version of the plans appearing now on Meier's website:

· Chinese developer's $420-million purchase of Robinsons-May site closes [LAT]
· Bev Hills' 9900 Wilshire Sells to Chinese Mega-Developer [Curbed LA]