New construction begins on former Olympia Resort site in Oconomowoc

OCONOMOWOC, Wis. (CBS 58) -- New life is coming for the former Olympia Resort in Oconomowoc.

Development of the site began Tuesday, May 25, after the resort and conference center closed in 2018.

The site will be renamed Olympia Fields.

Mayor Robert Magnus calls it a gateway to Oconomowoc from the south.

"It a huge, it’s a very, very special day," said Magnus.

The new Olympia Fields will host more than 130-apartments, retail, medical buildings and more.

“Nowadays people want to spend more of their time outdoors, especially after last year, and the restaurants will have outdoor seating and gathering areas," said Wangard Partners CEO Stewart Wangard.

He said the project costs are more than $100-million – with supportive funding coming from a TIF district and the city.

Wangard Partners took over this 300-acre site in 2018, after a series of ownership changes.

Magnus said the deal took much negotiation and communication.

“This day has been kind of stuck in time and we’ve had a hard time actually expanding business development in this area and now it’s actually happening," said Magnus.

Many may remember this area for the movie theater, ski hill and golf course.

The new site will have recreational paths, trails and public roads.

“It was fun in its time but now, as time has changed, it’s actually going to be something more special," said Magnus.

Wangard Partners will also remodel the old shopping center where the Kmart and Pick n’ Save used to be.