Luxury developer Ardie Tavangarian is sinking $47 million into restoring and expanding Elizabeth Taylor's former Bel-Air compound at 700 Nimes Road. The total investment: $62 million.

Tavangarian purchased the 1.3-acre estate for $15 million in 2021 from entrepreneur Rocky Malhotra. He told the New York Post he views the project as a preservation effort: "I'm approaching this as though she is my client."

Taylor bought the ranch-style home for $2 million in 1981 from Nancy Sinatra, Frank Sinatra's first wife, and lived there for 30 years until her death in 2011 at age 79. The five-bedroom, two-level house spans about 7,000 square feet on a property that became, for three decades, one of Bel-Air's most storied addresses.

Rather than demolishing the 60-year-old structure, crews are reinforcing the original frame and restoring spaces Taylor used daily, including her primary bedroom suite, beauty center and velvet-lined jewelry room. Some rooms had been converted into a showroom and offices for a high-end audio/visual firm that rented the property from Malhotra, according to the New York Post. Tavangarian is returning those spaces to their original condition.

The preserved section will serve as an institutional wing within the expanded compound, alongside an art gallery showcasing Taylor-related works.

Construction teams leveled an adjacent hillside to build a new 12,000-square-foot modern extension, bringing the combined compound to approximately 19,000 square feet. The addition includes three bedrooms, a high-end screening room, a spa, wellness amenities and a 4,500-square-foot retractable roof. Existing exterior brickwork will extend onto the new wing to maintain visual continuity.

Outside, the landscaping preserves Taylor's signature sapphire-colored swimming pool, a restored koi pond and climbing rose arbors featuring the pink "Elizabeth Taylor" hybrid tea rose.

Tavangarian founded the West Los Angeles-based Arya Group at age 22 and trained at the Southern California Institute of Architecture. His portfolio includes a Bel-Air mansion that sold for $75 million in 2019, and his current listing, Villa Siena at 607 Siena Way, was originally priced at $177 million in fall 2024 and relisted at $135 million in August 2026 after a deal fell through. He has said the Taylor estate may be his final ultra-luxury residential project before shifting to hotels and fire-resistant construction in Los Angeles, according to Brentwood News.

Tavangarian expects to complete the 700 Nimes Road project in 2027. No buyer has been secured and a listing price has not been disclosed.