Wangard Partners Inc. is looking to add another 26 unit apartment building to the multi-family component of its Olympia Fields development neighborhood in Oconomowoc. According to city documents, the Wauwatosa-based developer is looking to rezone around …


Wangard Partners Inc. is looking to add another 26 unit apartment building to the multi-family component of its Fields of Olympia development district in Oconomowoc. According to city documents, the Wauwatosa-based developer is seeking to rezon approximately 0.63 acres of land at 1375 Royale Mile Road to allow for the construction of an apartment building. This would be in addition to the building previously approved for Olympia Fields, said Matt Moroney, President and Chief Operating Officer of Wangard Partners. The proposed building, along with some modifications to the original ones, would bring the number of units at Olympia Fields to 187, Moroney said. They would all be at market rates, ranging from studios to three bedroom units. Olympia Fields is developed on the site of the former Olympia Resort. The sprawling site will include 420,000 square feet of new construction. It will include apartments, medical offices and other commercial buildings. Wangard Partners acquires the 0.63 acres as part of a pending 11-acre land purchase on the Olympia Fields development site. The city recently acquired this land through a prominent estate. The previous owner is deceased and did not leave a will specifying what should be done with the property. Moroney said Wangard Partners was the one and only bidder to respond to a request for proposals from the city for the purchase of the land. He said that even before his successful bid, Wangard Partners wanted to use part of those 11 acres for more apartments. The rest will go to commercial uses, he added. The proposed rezoning and related approvals are to be reviewed at the Planning Commission meeting tomorrow. Joint council members would give final approval for the rezoning. Meanwhile, Wangard Partners is expected to complete the purchase of the land in late September, Moroney said. The old complex has been demolished and foundation work on the apartment buildings is expected to begin in October, Moroney said. The city is also carrying out the first phase of its infrastructure work at Olympia Fields. This will provide new sewer and water pipes to apartments and part of commercial construction sites, he said. The city will continue to install new public service infrastructure and realign public streets in the next phases. The first apartment building is expected to go live on Memorial Day weekend. A new building is expected to open each month thereafter, with the last building due to come online by the end of December 2022.


Source link

Leave a Reply

Your email address will not be published.