OCONOMOWOC — After almost a year
of vacancy and questions surrounding the property, Olympia Resort
has been sold to Wangard Partners.
Oconomowoc 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.
“I think it’s going to be 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 us.”
Nold said Wangard plans on having a mix of things, including making
the hotel into an apartment complex.
Olympia, which was built in 1972 as a hotel and conference center,
was named in an Aug. 23 foreclosure filing in which the resort
owed over $2.3 million in unpaid principal, accrued and unpaid
interest, costs, expenses and fees, the filing stated.
Nold said the Summit Avenue Corridor is one of the most crucial
areas for redevelopment in the city.
“That area is ripe for redevelopment and I hope they work together
with the surrounding properties to create something special,” Nold
He added with all parts of the city receiving redevelopment efforts,
now including the Olympia property, Oconomowoc is a good place to
“We’re 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.
Nold said the city has meetings with Wangard Partners next week to
discuss their plans and direction for the property.
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