Longtime Palm Beach residents are fighting to preserve the island's little remaining middle to upper middle class character as rich developers seek to tear down the current standings to build luxury condos.At the center of the feud between locals and developers is the Ambassador Hotel. Cain International and OKO Group bought the Ambassador and an apartment building across the street for $147 million in 2022 with the intent to demolish the hotel.Their plan is to replace dated building with 'the most ultra-luxury multifamily project likely that the town will ever see,' Bloomberg .
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