Cain International and OKO Group have unveiled plans for a luxury residential and resort development in Palm Beach, Florida. The project is set to rise on the former site of the historic Ambassador Hotel, located at 2720 and 2730 S. Ocean Blvd., bringing a new level of sophistication to the southern tip of the island.
Spearheaded by Vlad Doronin of OKO Group and Jonathan Goldstein of Cain International, this high-profile venture has already begun to attract attention. Although the development remains unbranded for now, Doronin’s ownership of Aman Resorts has sparked speculation that it could eventually carry the Aman or Janu name—both synonymous with world-class luxury.
Palm Beach has not seen a new branded project of this caliber in years, making the announcement particularly notable. While no official branding decision has been disclosed, the possibility of a renowned name setting roots in the South End has drawn interest from both industry insiders and residents alike.
The proposal has also stirred debate among some members of the local community. Nearby property owners have voiced concern over the scale of the project and proposed zoning changes. In particular, the board at The 2770, a neighboring beachfront condominium, has expressed reservations about how the development could affect the area’s future.
In response, OKO Group and Cain International have emphasized their willingness to work closely with town officials and residents. A spokesperson from the development team stated their intention to create a low-density, ultra-luxury residential community that enhances—not disrupts—the surrounding neighborhood. The team remains committed to incorporating council feedback as they refine the design.
Key elements of the proposed development include a thoughtful redesign of the existing structures. The oceanfront building will be scaled down from seven stories to five, promoting a more balanced and visually appealing layout. Simultaneously, the lakefront structure will be increased to five stories to accommodate more open and functional living spaces.
Sustainability plays a major role in the design. The developers plan to replace the current hardscape with lush, landscaped grounds and introduce an underground parking garage. These changes not only modernize the site but also support a more environmentally responsible footprint.
To facilitate these upgrades, the project also seeks amendments to the existing zoning code. Proposed changes include adjustments to front-yard setbacks, the addition of balconies, underground garages, and rooftop amenities under specific conditions. These updates aim to bring the area’s regulations up to date and support innovative architectural standards.
Situated just a half-mile north of the Lake Worth Beach Pier, the site lies along what locals call Condominium Row. Its transformation could mark the beginning of a new chapter for Palm Beach’s South End, boosting both property values and the quality of residential life in the area.
As the project progresses, the Palm Beach Town Council will continue to play an essential role. Developers have reaffirmed their commitment to maintaining transparency and prioritizing community involvement through each phase of the planning process.
While branding and design specifics remain under wraps, the collaboration between Doronin and Goldstein is already setting the tone for what promises to be a landmark project. With its focus on luxury, sustainability, and community engagement, the redevelopment of the old Ambassador Hotel stands to reshape the future of this iconic part of Palm Beach.
