OCONOMOWOC – Wangard Partners, Inc. (Wangard), a Milwaukee-based full-service real estate company, hosted an event today celebrating the groundbreaking of The Locklyn at Olympia Fields, a new luxury apartment development that will bring 178 units of luxury apartments to Oconomowoc. The Locklyn represents the first phase of the new Olympia Fields redevelopment, the complete re-imagining and revitalization of the historic property that was once home to the Olympia Hotel and Resort from 1974–2018.
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, Wangard CEO Stewart Wangard and Wangard President & COO Matt Moroney.
“The Locklyn at Olympia Fields is the beginning of highly anticipated change for this historic property,” said Stewart Wangard, CEO and Chairman of the Board of Wangard Partners. “This residential development will bring a great new amenity to the area and add significant new value to the City of Oconomowoc.”
The Locklyn will consist of seven new Class-A apartment buildings which will also feature a state-of-the-art Resident Clubhouse, bringing high-end craftsmanship and modern amenities to residents. The Locklyn will sit on about 10.5 acres of the new Olympia Fields redevelopment and bring nearly $40 million in new investment to the community. Wangard Partners expects to complete the final building by December 2022.
Wangard Partners announced the revitalization of Olympia Fields, a new development bringing new retail, medical office buildings and multifamily housing, earlier this year. The property will feature significant new public amenities, including new public roads, recreational paths and trails.
The City of Oconomowoc is supporting the redevelopment of the site through a TIF District that will invest $18.7 million, which helped fund 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.
About Wangard Partners, Inc.
In 1992, Wangard began with the intention of being a different kind of commercial real estate firm, one inspired by a true passion for development. Wangard builds for communities, with communities. Wangard continues to improve the landscape of Southeast Wisconsin, not only by developing high-quality, unique properties, but by creating opportunities for job growth to build a stronger economy. It’s an interrelated operation that enriches the quality of life and creates pride in the local communities. As a result of this vision and commitment, Wangard has emerged as a leading commercial real estate firm in Wisconsin. Wangard Partners is the largest minority-owned developer in the state and has been recognized by its peers as Developer of The Year by The Daily Reporter, for the third year in a row. More information can be found at wangard.com.