Bev Hills measure passes

By a margin of 129 votes, developer Beny Alagem will be able to build two luxury condo towers and a Waldorf-Astoria hotel at the site of the Beverly Hilton. Final vote on Measure H was 7,972 to 7,843. You may recall that the Bev Hills City Council approved the $500 million project by a 3-2 vote, but opponents gathered enough signatures to place the referendum on the Nov. 4 ballot. I haven't read much about Alagem's financial arrangements, but considering what's happening in the credit markets - and the number of projects that have been put on hold - it might be a good question to ask. (LABJ)