The world's richest man's plan to build a luxury hotel on LA's most famous shopping street was torpedoed after residents voted against it
."While I respect the democratic process, I believe our community lost an incredible addition to Rodeo Drive that would have provided additional funding for vital city services."
"I'm devastated," Andy Licht, chair of the Beverly Hills planning commission, told The Financial Times."It's a horrible decision."Jon Hicks/Getty Images The Financial Times reported that LVMH is expected to retain ownership of the property and could develop it for other uses like retail or office space.on the street, including Louis Vuitton, Dior, and Fendi. Other luxury fashion brands including Prada, Gucci, Yves San Laurent, and Valentino also have stores on Rodeo Drive.Subscribe to push notifications
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