Peshtigo National Bank received the go-ahead last week to split its lot into two parcels, but a bank representative dismissed rumors that a hotel will be built at the site.
Oconto Falls resident Kevin Wirtz, who planned to build a home on a lot behind the bank next spring, said people in the neighborhood told him a hotel will be built at the site.
Carrie Hill, PNB vice president, denied the claim.
“It’s just separating our lot. Unfortunately, Oconto Falls must have a lot of rumors,” she said.
The City Council on March 10 unanimously approved PNB’s request to divide its 4.9-acre lot into two parcels. The bank, built in 2008, is located on 2.6 acres at 508 N. Chestnut Ave. The council’s action will permit the bank to create a separate, 2.2-acre lot on the corner of Chestnut Avenue (state Highway 22) and East Highland Drive.
“We have the extra land, and we’re separating. This has been in the works for years,” Hill said. “It’s not anything we’re doing for any particular business.”
According to Hill, there is “nothing that is on record” regarding discussions with the city of Oconto Falls or Oconto County Economic Development, which have been in contact with a hotel developer for several months.
An Oconto County market study completed in 2013 determined the county could economically support a centrally located, limited-service, midpriced hotel. OCEDC put out the word in 2013 that it was looking for investors.
Paul Ehrfurth, executive director of OCEDC, told the Times Herald in January a developer expressed interest in a hotel project in Oconto Falls and could break ground this spring. He estimated the finished project will encompass 2.6 acres.
Ehrfurth, who is out on medical leave, could not be reached for comment last week, but City Administrator Vicki Roberts told the Times Herald a meeting is scheduled this week with a potential hotel developer.
Hill said she was not sure if the bank will market the land for sale or when a decision will be made as to its use. She said PNB elected to split the lot because bank officials know they will not need the extra land. PNB bought the entire 5 acres because that was the amount of land for sale, she said.
“We’ve always had the intention of splitting the lot,” she said.
When Wirtz bought his residential lot on Dove Lane, he was comfortable having the bank as a neighbor, he said.
“It’s a bank. It’s not busy at night. It’s not busy on the weekends. It’s quiet,” he said. “Now all of a sudden they want to divide that up, so they can sneak in more-than-likely a hotel that’s coming in or a business.”
Wirtz said he he doesn’t want to walk out his back door to see a four-or five-story hotel.
“I’m sure there’s other places that hotel could go to,” he said.
Alderman Mathew McDermid said the city has no reason to stop PNB from dividing its lot.
“Who are we to dictate what they are to do with that property?” he said.
“The city has no position to stop the bank in marketing their property for development,” Alderman Kevin Rusch added.
“The other areas of the city are open if anybody wants to develop them,” McDermid said, “but I don’t see any reason why Peshtigo National Bank shouldn’t be able to capitalize on an opportunity … if it does come to that.”
After the meeting, Wirtz said he and his wife will decide whether to build on their lot, dependent on how the vacant parcel is used.
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