New Oceanfront Condo Development Proposed in Palm Beach After 20+ Years | Florida Real Estate News

Oceanfront Condo Development, New Laws, and a Shifting Market

For the first time in over two decades, Palm Beach is on the verge of a major transformation—and it’s not just the skyline that could be changing.

Earlier this month, Vlad Doronin’s OKO Group and Cain International unveiled plans for a brand-new oceanfront condo project on the prestigious island of Palm Beach. The proposed development would feature a three-building complex branded by Aman Resorts, known for their ultra-luxury, wellness-focused hospitality across the globe.

The proposal was presented during a Palm Beach Town Council Development Review meeting, and if approved, it would mark the first new oceanfront condo construction on the island in more than 20 years.

Why This Is Big News

Palm Beach is widely known for its resistance to overdevelopment and deep-rooted architectural preservation. New construction—especially on the ocean—is incredibly rare, which is why this proposal is turning so many heads.

But this announcement isn’t happening in a vacuum. It arrives at a time when Florida’s new condo safety laws—implemented in the wake of the Surfside tragedy—are creating significant financial and operational pressure on older condo buildings.

The Perfect Storm: Aging Buildings, Rising Costs, and New Competition

In the words of local expert Scott Gordon of Douglas Elliman:

“It’s like the perfect storm.”

Here’s what that storm looks like:

🔧 New State Regulations:

Florida law now requires more rigorous structural inspections and higher reserve funding for condominiums over a certain age—especially those near the coastline. For many buildings in Palm Beach, this means expensive repairs and long-overdue updates can no longer be delayed.

💰 Insurance Premiums Are Climbing:

Many associations are facing skyrocketing insurance costs, which directly impact monthly HOA fees. In some cases, buyers are turned off by the high cost of ownership, even when unit prices seem attractive.

🏗️ New Construction Next Door:

With the recent construction boom in nearby West Palm Beach, including luxury condos and mixed-use developments, buyers now have modern alternatives just across the bridge—often with lower maintenance requirements and more contemporary amenities.

What This Means for Buyers & Sellers

If you own a condo in an older building, you may be wondering: How does this affect me?

• Sellers should be aware that buyer preferences are shifting. New developments like the Aman project raise the bar for expectations in design, amenities, and safety standards.

• Buyers will need to weigh the pros and cons of charming older condos versus new, highly amenitized properties that often come at a higher price tag—but with fewer surprise assessments.

• Investors should keep an eye on how increased inventory and new luxury projects influence pricing and rental demand in both Palm Beach and West Palm.

Final Thoughts

The proposed Aman-branded development is more than just a new building—it’s a signal of broader change in Palm Beach real estate. Between regulatory shifts, rising costs, and fresh competition, the condo landscape is evolving quickly.

Whether you’re buying, selling, or simply holding property, now is the time to get informed and think strategically.

📩 Have questions about how this might affect your property or your real estate goals?

Let’s connect—I’m happy to offer insight and help you plan your next move with confidence.