One Beverly Hills is a project unlike any other. The massive development—the largest in Beverly Hills' history—will transform a 17.5-acre site adjacent to the Beverly Hilton and Waldorf Astoria Beverly Hills into a mixed-use urban resort adjacent. It will also generate impressive benefits exceeding $1 billion for the City of Beverly Hills.

In very round numbers, the general fund revenues from this project are in excess of $500 million, maybe much in excess. "We are projecting to receive an additional $1 billion in total benefits over and above the otherwise applicable benefits. So, we doubled or tripled the financial benefits," Henry Finkelstein of Greenberg Glusker tells GlobeSt.com. Bob Baradaran adds, "This type of transaction is unique. I don't think you'll find another development agreement in the country that is similar to this."

Greenberg Glusker's Finkelstein and Baradaran served as special counsel representing the city in the transaction. "Our job was to try to negotiate a favorable economic deal for the city on a project that was perceived as beneficial, advantageous and positive to the city already," says Finkelstein. "It is designed by a super world-class rock star architect, it has a number of great green spaces and environmentally, it is on the leading edge. It also has a number of components that are very desirable to the city like modernized event spaces, ultra luxury hotel rooms and repositioning the Hilton as a better property than it has been in a long time."