— After almost a year of vacancy and questions
surrounding the property, Olympia Resort has been sold
to Wangard Partners.
Mayor Dave Nold said he believes Stewart Wangard’s,
the CEO and President of Wangard Partners, redevelopment
of the Summit Avenue Corridor is going to be great.
think it’s going to
a huge plus for the community,” Nold said. “It could
be one of the biggest things to happen to the city of
Oconomowoc and I’m excited to see the plans he brings
said Wangard plans on having a mix of things, including
making the hotel into an apartment complex.
which was built in 1972 as a hotel and conference
center, was named in an Aug. 23 foreclosure
in which the resort owed over $2.3 million in unpaid
principal, accrued and unpaid interest, costs, expenses
and fees, the filing stated.
said the Summit Avenue Corridor is one of the most
crucial areas for redevelopment in the city.
area is ripe for redevelopment and I hope they work
together with the surrounding properties to create
something special,” Nold said.
added with all parts of the city receiving redevelopment
efforts, now including the Olympia property, Oconomowoc
is a good place to be.
building the tax base and with the lakes, the
environment, the school district, our public safety and
other things, everything we want to go well is doing so
right now,” Nold said.
said the city has meetings with Wangard Partners next
week to discuss their plans and direction for the