[Editor’s note: This post has been updated for accuracy]

It appears proposed plans for a new resort and residences on the oceanfront site of the old Ambassador Hotel is gaining steam.

Last year, PALMER was first to report on rumors about the possibility of a luxury resort and residence development on the South Ocean Boulevard property after it had been purchased by OKO’s Vlad Doronin (owner of the Aman) and Jonathan Goldstein of Cain International. At the time media outlets  speculated the resort might become a Janu Hotel or a new Aman, however a spokesperson for the developers has told PALMER that no brand has yet been attached to the project, as it is still in the development stage.

While no one doubts the  project will be a game changer for the southern tip of the island, Bloomberg reports that some longtime neighbors are concerned about how the growth might impact area.

“OKO Group and Cain International appreciate the feedback received from the Palm Beach Town Council. We share the Council’s belief that an ultra-luxury, low-density residential development will enhance the surrounding neighborhood while reducing impacts on the community,” a representative said in a statement to PALMER. “Our team will follow the Council’s input in determining the right path forward as we further develop our plans, which have been well received by local constituents. We are eager to continue engaging with our neighbors and Town officials over the coming months and are confident our development will be of the highest caliber that we will all be proud of.”