A saga that has consumed Rodeo Drive may finally reach its climax as residents have voted on the fate of the Cheval Blanc Hotel development plans. And right now, it’s not looking good.
LVMH—home to brands including Louis Vuitton, Dior, Fendi, Givenchy, Tiffany, TAG Heuer and Bulgari—plans to redevelop a sizable chunk of Rodeo Drive with a luxury hotel. But those plans hit a roadblock last year with concerns about the potential traffic impact of the hotel project, as well as the grand scale of the build and the overall benefits to the city.
Without full support of the city council for the project, voters weighed in to decide if the hotel should move forward as planned. Bloomberg reports that preliminary returns show opponents with a slim advantage.
The 115-room project includes about 25,000 square feet of retail space and amenities like a wellness center on one of the world’s most famous luxury shopping destinations.
In addition to hundreds of millions of dollars in tax revenue, the developers of the project were reportedly offering $28 million to city coffers. Councilman John Mirisch, who opposes the project, said the developers aren’t being asked to do enough.
Be the first one to reply