Three forces are reshaping Beverly Hills' southeast corner at once: a subway station that opened six weeks ago, a $130.8 million apartment project that just locked down financing, and a state housing law that took effect July 1. The city's Property Owners Task Force met Thursday, June 18, at City Hall to assess what all of it means for retail along the Wilshire and La Cienega corridor.

The Wilshire/La Cienega D Line station opened May 8, bringing roughly 8,000 to 10,000 additional riders per day in its first month, according to the Los Angeles Times. Systemwide, Metro ridership rose 9.5% year-over-year in May 2026, the strongest showing in six years.

That foot traffic is arriving alongside major construction. Westland Development Group, led by CEO Abraham Assil, secured $85 million in construction financing in June for The55, a 140-unit mixed-use building at 55 North La Cienega Boulevard, according to The Real Deal. The six-story project includes 13,300 square feet of ground-floor retail and restaurant space. The Real Deal reported it would become the largest residential property in Beverly Hills. Total cost: approximately $130.8 million. The project spent more than a decade in the city's planning process.

The task force also received a briefing on California Senate Bill 79, the transit-corridor housing law introduced by Sen. Scott Wiener (D-San Francisco). SB 79 took effect July 1, but Beverly Hills' alternative plan, unanimously approved by City Council on June 9, delays its provisions locally until 2030, according to the Beverly Press. Without the delay, the law would allow buildings up to nine stories adjacent to the Wilshire/La Cienega station, seven stories within a quarter-mile, and six within a half-mile.

The task force is managed by the Beverly Hills Chamber of Commerce under a $553,245 annual contract with the city. For fiscal year 2026-27, the Chamber has proposed increasing its contract to $573,850 and reducing task force meetings from four to three per year, according to a June 2 City Council liaison committee session. Mayor Corman and Vice Mayor Wells serve as council liaisons.

The June 18 agenda listed discussion of specific tenants arriving and departing the corridor, but those details have not been made public. Minutes are expected in early July. Residents can submit written comments to [email protected].