Header Image: Architectural rendering of proposed ICONA Boardwalk Hotel | Caption: Proposed ICONA Ocean City Boardwalk Hotel | Source: OCNJ Daily

Ocean City is once again weighing the future of the former Wonderland Pier property along the Boardwalk, and the conversation has renewed public attention on whether ICONA Resorts’ $150 million hotel concept could move forward. The owner, developer Eustace Mita, has temporarily paused the property’s sale to give City Council time to decide whether the site should be designated “in need of rehabilitation,” a key step that must happen before any redevelopment plan could advance. With the property currently listed at $25 million, this is one of the most closely watched land decisions in Ocean City heading into December.

What’s Driving This Renewed Conversation

The catalyst for the current discussion is the City Council meeting scheduled for December 4, where members may vote on whether the Boardwalk parcel qualifies as “in need of rehabilitation.” This designation wouldn’t approve the hotel itself, but it would allow the city to adopt a formal redevelopment plan — a crucial procedural gate that stalled earlier in the year.

The site sits in the heart of Ocean City’s Boardwalk corridor, near 6th Street and across from several well-established commercial blocks on Asbury Avenue. Because of its size and waterfront orientation, the parcel is considered one of the most significant remaining redevelopment opportunities in town.

What ICONA Is Proposing

ICONA’s hotel concept includes:

• A Boardwalk-front luxury hotel

• A full-service hospitality program consistent with ICONA’s brand

• A design that incorporates existing Boardwalk character

• A total estimated investment of $150 million

The rendering released publicly shows a multi-story structure designed with soft coastal architecture and a layout intended to integrate with the pedestrian flow of the Boardwalk. While the proposal hasn’t reached the approval stage, it remains the only known large-scale redevelopment concept tied to the property.

Why the Rehabilitation Vote Matters

A vote to declare the site “in need of rehabilitation” isn’t a green light for construction. Instead, it’s the mechanism that allows:

• Creation of a redevelopment plan

• Specific land-use requirements to be defined

• Negotiations between the city and developer

• Public review and ordinance-level zoning controls

Without this designation, the project cannot legally move into a formal planning process.

According to OCNJ Daily’s reporting, Mita agreed to delay any sale activity until after the December 4 meeting. That move alone underscores the weight of the city’s next step.

Stakeholder Perspectives

Because the property sits along the Boardwalk and near high-traffic areas around 6th Street, the decision has implications for tourism, the business district, and year-round residents. At this stage, the discussion is centered on the procedural vote rather than the merits of the hotel itself.

According to the public reporting on this issue, the city is reviewing whether the property meets the qualifying criteria for a rehabilitation zone under New Jersey redevelopment law. The outcome will determine whether ICONA’s proposal even enters the pipeline.

What Ocean City Homeowners Should Know

Given the site’s prominence, homeowners and investors naturally want to understand how a project of this scale could reshape the surrounding area. The Boardwalk remains one of Ocean City’s strongest economic engines, and large-scale improvements tend to spark broader conversations about infrastructure, crowd flow, and long-term commercial stability.

As a local agent, I’ve seen how interest in Boardwalk-adjacent properties often tracks with major redevelopment cycles. When a corridor undergoes revitalization, buyers pay close attention to which streets — like 6th Street and nearby Boardwalk cross streets — may see increased foot traffic, improved amenities, or evolving commercial patterns.

Why It Matters

A potential redevelopment plan for the former Wonderland Pier property signals more than just a hotel proposal — it signals Ocean City’s long-term vision for its Boardwalk economy. Projects tied to anchor parcels tend to influence:

• Visitor flow and pedestrian patterns

• Commercial tenancy around Asbury Avenue

• Long-term value stability for nearby residential pockets

• Off-season business activity

“Even when the market shifts, the best spots in town still get attention,” said Mike Sutley, Team Leader at Lexy Realty Group. “That stretch of the Boardwalk is one of those places.”

FAQ: Common Questions from Homeowners and Investors

Could the hotel still be rejected even if the rehabilitation vote passes?
Yes. The designation only allows the city to write a redevelopment plan; it doesn’t approve the project.

Will this affect Boardwalk access or traffic near 6th Street?
Any future redevelopment plan will outline traffic, construction, and access patterns. None are defined yet.

Is this guaranteed to become a hotel?
No. ICONA’s proposal is one option, but the city has not endorsed any specific concept.

Final Thoughts

This is a pivotal moment for Ocean City’s Boardwalk corridor. Whether ICONA’s proposal ultimately moves ahead or not, the December 4 vote will shape the next phase of conversation around one of the most discussed properties in town.

Sources: OCNJ Daily, Ocean City City Council documents