Shore landmark Gillian’s Wonderland Pier is in foreclosure
Despite the foreclosure judgment, attraction owner and Ocean City Mayor Jay Gillian asserts the venue will reopen for the 2021 season.
After more than 90 years of operation, Gillian’s Wonderland Pier in Ocean City is in foreclosure. But the owner, Ocean City Mayor Jay Gillian, asserts the landmark amusement park will reopen for the 2021 season.
Gillian defaulted on three loans totaling about $7.9 million with the pier as collateral, according to a court judgment entered last week. The court also ordered the property to be put up for auction. Gillian, who did not respond to requests for comment, said in a statement to NBC10 that although the pier was affected by the pandemic, it had “secured financing” and would be reopening on March 27.
“We look forward to another WONDERful summer in America’s Greatest Family Resort,” the statement read. “It is important to me to continue the legacy created by my grandfather 92 years ago.”
The statement did not specifically reference the foreclosure order, and gave no details about the funding.
Gillian and his wife, Michele Gillian, who is executive director of the Ocean City Regional Chamber of Commerce, are listed as defendants in the case brought by First Priority Bank. Jay Gillian has been mayor of Ocean City since 2010, and in his most recent reelection in 2018 received nearly double the votes of his opponent.
Ocean City was forced to close its beaches and boardwalk just as the tourist season started due to the pandemic, along with many other Shore towns like Wildwood. The pier managed to reopen later in the summer with new distancing and hygiene protocols.
But much of Gillian’s debt was accrued before the pandemic, with a loan of about $7.3 million due in May 2017, the Atlantic City Press reported. The rest of the debt accumulated over the last few years as Gillian took out two more loans without paying off the first.
The pier has been in Gillian’s family since his grandfather opened the place in 1929. Gillian also opened a smaller amusement park in Sea Isle City in 2009, but it closed just five years later, citing damages sustained during Hurricane Sandy.