Mr Mitchell made his name building homes on the Poole peninsula, which is now synonymous with luxury properties and the multi-millionaire lifestyle.
He hopes his vision could help finance vital maritime defences to stop parts of Sandbanks from succumbing to the sea.
The centrepiece of his proposals, which by his own admission are “thoughts only” and will not be formally submitted to Borough of Poole’s planning department, is the tower, where visitors could abseil, rock climb, zip wire and bungy jump from.
Also included is a seven star hotel shaped like a seagull, restaurants, casinos, shops, a helicopter landing pad and luxury apartments.
Mr Mitchell, said: “I first took up residence with my family 20 years ago, in 1994, and have watched and experienced each winter since.
“It is apparent to me that if conditions continue as they are and worsen as expected, then the promenade and Banks Road will need a considerable amount of money spent on them in order to keep Sandbanks accessible by road.
“Where private houses now face the channel, they will be forced to protect their homes. But where footpaths and roads continuously flood and services overflow, then pressure will be brought upon the borough.
“My vision sets out a unique set of buildings and facilities, forgetting the design and layout as no doubt these could be debated over for many years to come.”
Other significant aspects in his proposals include an underground car park, using new technologies, replacing Sandbanks car park, a large open air swimming pool, a floating marina, an aquarium and an open air theatre.
Mr Mitchell said: “What will happen and where I will be when it does, who knows?
“I do know that I felt compelled to put my thoughts, my vision, on paper.
“They are thoughts only.”
Borough of Poole planning and regeneration manager Richard Genge said: “This is the first time we have seen images of Mr Mitchell’s vision.
“The council has not received a planning application and as such we are unable to comment on these proposals