Summary: After withdrawing a $150 million hotel plan, the current owner received two major purchase offers for the former Wonderland Pier site—one at the $25 million ask from the Norcross family and a higher, undisclosed bid from national builder Ryan Homes (NVR). Any residential concept would require zoning variances because current rules allow retail, food, and amusements.

The property and the pivot

The Boardwalk parcel—once home to Wonderland Pier—is one of Ocean City’s most-watched sites. Following pushback on expedited zoning for a hotel concept, the owner listed the property for $25 million and has since fielded multiple offers. The owner says he’ll review proposals over the next 30–60 days.

Who’s bidding—and why it matters

A $25 million offer reportedly arrived from a family associated with South Jersey powerbroker George E. Norcross III, while Ryan Homes submitted a higher bid “substantially north” of asking. Both suitors have signaled potential residential townhome concepts—ideas that would require relief under current Boardwalk zoning.

Zoning basics on the Boardwalk

As written, Boardwalk-front zoning prioritizes amusement, dining, and retail uses. Converting the tract to residential would likely entail planning/board reviews and variances, plus public input. That means timeline and design are not simply a function of price and closing; approvals are an independent hurdle.

Local voice

According to reporting and the public record, the site’s future is folded into a broader Boardwalk area master plan review, reinforcing that any change is part of a larger corridor-wide conversation rather than a one-off exception.

Why it matters (real estate insight)

A shift from amusements/retail to residential on the Boardwalk could redefine foot traffic patterns, off-season activity, and adjacent property perceptions. If townhomes were approved, expect debates about ground-floor activation, setbacks, and parking—factors that shape both street life and unit values. Scarcity also plays a role: developable, high-visibility waterfront-adjacent parcels are finite in Ocean City.
“Even when the market shifts, the best spots in town still get attention,” said Mike Sutley, Team Leader at Lexy Realty Group.

What to watch next

• Formal filings: Track whether an applicant seeks variances and what the initial site plan includes.

• Public meetings: Planning Board agendas will signal timing and scope.

• Design trade-offs: Height, façades, and ground-floor use will be central to approvals.
  
  

Micro-FAQ

• Is a sale guaranteed? No. Offers are under review; terms and contingencies could affect outcomes.

• Could the site stay amusement/retail? Yes; zoning already allows it. A buyer could pursue permitted uses.

• How fast could townhomes happen? Only after approvals; timelines depend on filings and hearing schedules.
  
  

Sources: OCNJ Daily; City of Ocean City.