LAKE OZARK, Mo. — Crews began blasting on Thursday in Phase 4 of the Eagles Landing project. Andy Prewitt, spokesman for developer RIS, Inc., says two retail clients are poised to move into the location along the south side of Highway 54. For now, however, he is keeping mum on what specific retailers will be the first to greet drivers arriving at the Lake of the Ozarks on the east end.
Phase 4 is “very tentatively” named The Landing, according to Prewitt, and steady progress has been visible for weeks, as bulldozers move earth and crews begin blasting away portions of the hillside that the developer hopes ultimately will house a range of stores.
Lake Ozark City Administrator Dave Van Dee said, in the June 24, 2014 Lake Ozark Board of Aldermen meeting, there was no planned development right now, just preparation. The board approved a Special Use Permit that night for the blasting.
Van Dee said what is being cleared will ultimately have various grade and land elevation changes made to it in preparation of future sites.
Prewitt explained the reason for diving into Phase 4 before Phases 1 and 2 (the area on the ridge to the north of Highway 54) are fully occupied is twofold. First, it makes the property more marketable. Additionally, an exclusivity agreement with one of the retailers in Phases 1 and 2 prevents one of the potential retailers from developing along the ridge. “When they put the bypass in, a lot of these retailers [liked Phase 4 better],” Prewitt added.
Phases 1 and 2 currently contain a Wehrenberg theater, Menards, Kohls, CVS, and Buffalo Wild Wings. Phase 3 has been indefinitely shelved after negotiations to purchase land fell through.
The City of Lake Ozark created a Community Improvement District (CID) district last year, which encompasses all of the project’s active phases. In this particular district, the City of Lake Ozark finances some of the project infrastructure, and is paid back by a special 0.5 percent tax levied at the stores within the district. That district has a lifespan of 26 years.
Though some would point to the poor aesthetics of the development process, Van Dee said when the area is completely developed the city expects that it will enhance the gateway to the community.
"In the interim," he said, "it is hoped that it will be viewed by the public as a positive effort by the city in supporting development opportunities."
