OCONOMOWOC, WI. – Wangard Partners, Inc. (Wangard), a Milwaukee-based full-service real estate company, hosted an event today celebrating the start of the revitalization of the long-cherished Olympia Resort site. Wangard is developing the 300-acre site into a mixed-use development that will become a grand new gateway to Oconomowoc.
“Olympia Fields represents a bright new future for this historic property,” said Stewart Wangard, CEO and Chairman of the Board of Wangard Partners. “We are thrilled to partner with the City to revitalize this site that will serve as a new gateway for Oconomowoc, bringing new public amenities, significant new tax base and much-needed commercial, residential and office options.”
Olympia Resort, a former hotel and conference center, will become Olympia Fields, a new development bringing new retail, medical office buildings and multifamily housing to the site. It will also feature significant new public amenities, including new public roads, recreational paths and trails.
The major milestone was celebrated at an event that took place on the site of the development and featured key speakers representing Wangard Partners and the City of Oconomowoc, including Oconomowoc Mayor Robert Magnus, Waukesha County Executive Paul Farrow, Wangard CEO Stewart Wangard and Wangard President & COO Matt Moroney.
“The redevelopment and revitalization of Olympia Fields is critically important to the continued growth and success of the City of Oconomowoc,” said Oconomowoc Mayor Robert Magnus. “We couldn’t ask for a better partner than Wangard Partners in this important work.”
The City of Oconomowoc is supporting the redevelopment of the site through the creation of a TIF District that will invest $18.7 million to support demolition of the existing building, and the addition of public infrastructure to the site. Wangard Partners will invest in commercial and multi-family developments on the site that will ensure a minimum of $64.5 million in new investment from 2024 to 2027.
“I applaud the City of Oconomowoc and Wangard Partners for their vision in creating a new future for Olympia Fields,” said Waukesha County Executive Paul Farrow. “This new development will be a great new addition not only to the City, but to all of Waukesha County.”