Eustace Mita, owner of the former Wonderland Pier site on the Ocean City Boardwalk, is pausing any plans to sell the property as he waits to see whether the city will reconsider his proposed $150 million luxury resort hotel.
Mita — who also owns ICONA Resorts, a brand of upscale hotels along the Jersey Shore — said he has been asked by both Ocean City officials and business leaders to delay the sale at least until the Dec. 4 City Council meeting.
While Mita hasn’t named who contacted him, he agreed to “hang on a little bit longer,” according to OCNJ Daily.
At the meeting, Council is expected to vote on whether to ask the planning board to label the Wonderland site “in need of rehabilitation,” a key designation that would help move Mita’s 252-room Boardwalk hotel proposal forward.
Previously, at the Aug. 21 meeting, Council struck down the possible rehabilitation designation. It was later decided to establish an advisory subcommittee to conduct a broader review of commercial zoning across the whole Boardwalk, instead of concentrating on just one area.
Afterward, Mita said he would not move forward with the hotel and put it up for sale immediately for $25 million, which is the appraised value.
Less than a month later, two competing offers emerged.
One came from attorney Philip Norcross, CEO of the South Jersey law firm Parker McCay, and the other came from NVR Inc.
Public records show the politically active Norcross family already owns homes in Ocean City, and the bid was set at Mita’s asking price. NVR Inc., the parent company of national homebuilder Ryan Homes, expressed its own interest at nearly the same time. The company is currently constructing the Links at Greate Bay in Somers Point.
According to OCNJ Daily, both Ryan Homes and the Norcross family have expressed interest in building townhomes on the former Wonderland site. They also have increased their offers, Mita said.
Both prospective buyers’ plans would require zoning changes because the site is currently restricted to retail, restaurants and amusements.
While Mita plans to pause any sale for now, he emphasized that he does not intend to wait indefinitely for the city to act. The longer the delay, he noted, the longer he must continue paying property taxes on a vacant site that is bringing in no return.
Business leaders continue urging Council to revisit the rehabilitation vote, arguing that a major hotel could help drive year-round economic growth and tourism. Mita said the city could collect about $1 million in tax revenue annually from the hotel — far more than the roughly $100,000 that he currently pays on the vacant Wonderland site, according to OCNJ Daily.
The presidents of both the Boardwalk Merchants Association and the Downtown Merchants Association are calling on residents and business owners to attend the Dec. 4 Council meeting to show support for the project. Meanwhile, the anti-hotel group Ocean City 2050 is encouraging opponents to attend and voice their concerns.
Four votes are needed on the seven-member Council to ask the planning board to consider designating the site as “in need of rehabilitation.”
Julia graduated from Rider University in 2024 with a BA in multiplatform journalism and minor in social media strategies. In addition to reporting on local news for Shore Local, she is a social media strategist for small businesses. Connect with her: shorelocaljulia@gmail.com or @juliatrain on Instagram.
