The Wanda Group, China's largest commercial property company, has plans to build a 134-room luxury boutique hotel and spa alongside 193 residences as well as new public gardens and space on some prime Beverly Hills, California real estate.

"Beverly Hills is known worldwide as a city of sophistication and style. We believe that finally building this project will complete the western gateway to Beverly Hills," said David Shu, General Manager of Wanda Beverly Hills Properties.

Designed by Getty Center architect Richard Meier & Partners and developed with luxury hotel developer The Athens Group, the new plan has reduced the number of residences from a previously approved project by 42, replacing them with the hotel, but not changing the height or density of the development. Wanda claims this change will result in an increase of more than US$4.2m (€3.8m, £2.7m) per year of direct revenues than without the hotel, for a total projected US$6.9m (€6.3m, £4.4m) a year.

"We are honoured to create a state-of-the-art, elegantly crafted project, which will become an important addition to the built fabric of Beverly Hills," said Michael Palladino, design partner of Richard Meier & Partners Architects Los Angeles.

Wanda hopes to have entitlements by the end of 2016 and anticipates the build will take around 30 months. Details of the spa, including the size, are still being determined.

Founded in 1988, the Wanda Group owns 71 luxury hotels, mostly in China, with plans to open a Chicago hotel around the same time as One Beverly Hills. The company also owns AMC Movie Theaters, as well as various operations in commercial property, entertainment and tourism, department stores, and e-commerce. In 2014, the company’s annual income reached $38.8 billion.

One Beverly Hills will be located on the famed Wilshire Boulevard at the site of the former Robinsons-May department store, which was demolished last year. In addition to the spa, hotel and residences, it will also feature public gardens, open space and green space designed by OLIN landscape architecture firm. There will be approximately three-quarters of an acre of public gardens and the entire project will be certified LEED Silver.

"One Beverly Hills is a wonderful integration of design and functionality," said Rohan a`Beckett, deputy general manager of Wanda Beverly Hills Properties. "The combination of world-class residences with a luxury boutique hotel on this legendary property is a perfect fit for Beverly Hills.”