10/15/2026
Is Mr. Eustace Mita truly planning to build in Ocean City—or is he positioning himself to sell? The distinction matters enormously to what our community gets in return.
After much time promoting his project, aggressively pushing for a rehabilitation designation, and a recent media tour to create urgency around deterioration on his property, Mita’s sudden lack of responsiveness and clarity is concerning.
This week’s Ocean City Sentinel reports that Council is still waiting on Mita, who is busy working on other projects, and that his initial answers to Council’s questions have only raised more questions. (https://ocnjsentinel.com/more-questions-than-answers-on-wonderland/)
Taken together with the fact that we have seen nothing for two years except a crayon rendering of his proposed high-rise, Mita is acting more like someone positioning the property for resale than preparing to build. That should concern every Ocean City taxpayer.
When the City permits significantly more development on a property, through something like a redevelopment plan, it substantially increases its land value. Typically, the owner gains valuable development rights and equity value in the land. And in exchange, the community gains enforceable commitments to deliver something desirable that will benefit the City.
But if Mita obtains those rights—and then sells—he can cash out that added gain before doing a single thing for Ocean City. The City would then be negotiating with a new developer whose starting point is a more expensive piece of land.
That ultimately affects the project’s economics, creating additional pressure for more rooms, greater density, fewer public amenities, or another round of concessions to make the higher cost viable.
If Mita sells, the increased value given to him by the rehabilitation designation in good faith by the city, will be lost in the departing owner’s pocket rather than returned to the community as a successful project.
Perhaps, as Mita has promised, he is committed to finding a compromise that works and has no intention of selling. But Council needs to realize the real possibility and its ramifications—and resolve this uncertainty before granting any further valuable new development rights.
As Council stated last meeting, they are waiting for answers from Mita. Is he committed and financially prepared to build? On what timetable? What public benefits will he be obligated to deliver? And what protections will apply if he sells?
The City cannot give Mr. Mita added land value—without securing what Ocean City wants in return.
Before granting that value, make sure we have our builder. Otherwise, Ocean City could create the profit, watch it leave the island, and still be waiting for the project.
