LAKE OF THE OZARKS, Mo. — The rumors are true: the Osage Beach Outlet Mall is under contract to be sold.
Chris Foster, with Horizon Development, tells LakeExpo.com the company has partnered with national development firm Legacy Development, based in Kansas City, to transform the iconic retail center at the Lake.
The Foster family is one of the oldest families at the Lake of the Ozarks, having been in the area since the 1820s. Dan Foster is a well-known local condo developer, and has been involved in building more than 1,000 condos at the Lake of the Ozarks, making him arguably the most successful condo developer in the state of Missouri.
Legacy Development, run by Dan Lowe, is a well-established developer, having been involved in more than 50 projects across 14 states, including Legends Outlets in Kansas City, Kan.
Foster says the process to acquire the outlet mall has been under way for quite awhile, and confirmed it was under contract but noted the plans for the retail center are still coming together. The rumor-mill was churning, Foster said, so it was time to clear the air as much as they could.
“We will only move forward with the project if we think we can be successful in creating a world-class destination,” Foster said. “We want to reinvent the shopping experience… to a 21st century type of project, that expands upon the current destination.” He emphasized the current retail operations at the mall would not be shut down, but the development team plans to build-on and expand the experience in a new direction.
The mall is being sold by Simon Property Group, the largest owner of shopping malls in the United States. Foster said Simon had been a “great company to work with” throughout the process.
He said changes will likely begin at the property in early 2022.
The mall property sits adjacent to a new retail center currently being developed by the Staenberg Group, at the site of the old Happy Fisherman restaurant and Golden Door Motel.
At its peak, the outlet mall hosted well over 100 retail stores and has been a major source of sales tax revenue for the city of Osage Beach for decades.