Camdenton Lands Opportunity Zone: Developers Say It Could Unlock A Wave Of New Housing

An area of Camden County has been approved as a federal Opportunity Zone, and local developers say it could attract investment dollars to help build affordable housing.

Federal Opportunity Zones have existed since 2017, and one already exists at Lake of the Ozarks, in Sunrise Beach. But the Big Beautiful Bill passed by the federal government in 2025 gave Opportunity Zones new life, creating tax incentives for investors who invest there.

The zone covers about 6,100 acres of land (and a portion of the Lake itself), and around 1,900 people live in it, according to U.S. Census Bureau data.

Two developers in particular have been vocal proponents of the Opportunity Zone: among them, local entrepreneur James Rericha, owner of Argosy and R Veterinary. Rericha praised the news, saying, "Housing at the Lake is limited by capital and the cost of construction, not demand. This rural Opportunity Zone gives investors across the country a strong reason to put long-term money into homes here, which helps the numbers work for projects that otherwise wouldn’t get built."

A lengthier statement from Rericha provided to LakeExpo is below.

Another, higher-profile property owner/developer within the new Opportunity Zone is Blake Hodits, principal of Mo Lake Development.

A Camdenton High School grad, Hodits experienced success in a career with Salesforce and moved back to the Lake area. He recently bought a 2,200-acre parcel bordering Camdenton, with ambitious plans for a multi-use development.

His plans include housing, commerce, education, recreation, industry and agriculture. His original site map also included plans for an approximately 500,000-square-foot data center. The inclusion of a data center in the plan received significant pushback from some in the community, and Hodits says he is currently planning to proceed with other aspects of the development and has removed a data center from the plans.

"Starting January 1, 2027, this gives our area another way to attract long-term investment in homes, local businesses and projects that could create year-round jobs," Hodits said.

Hodits' team provided a series of graphics promoting the benefits of the Opportunity Zone and emphasizing the designation does not in any way include or provide for a data center.

Opportunity Zone Infographics

Infographics about the Camdenton-area Opportunity Zone, provided by Mo Lake Development.

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Hodits' full Facebook post is below.

Rericha's full statement:

“Building year-round housing at the Lake isn’t limited by demand. It’s limited by capital and the cost of construction. Roads, water and sewer have to be engineered, permitted and paid for years before the first home is sold, and building costs keep climbing. Too often the numbers don’t work, and the homes never get built.
This designation helps close that gap. Investors anywhere in the country who have capital gains now have a strong reason to put that money into housing here. Because this tract qualified under the rural program, an investor can defer that tax for up to five years, pay tax on only 70 percent of the original gain, and pay no federal capital gains tax on the investment’s growth after ten years. That improves the return enough to make more housing projects possible, and it rewards the kind of investor housing needs: one who builds, holds and stays.
As an employer here, I see the challenges my employees face finding affordable housing, and many of them end up commuting. More homes close to where people work is good for families and for every business in the area.
The benefit reaches beyond any one project. The zone covers land owned by many people, and it builds on development already underway nearby, like the new Aldi near Highways 5 and 54. New homes bring customers for local businesses, and new businesses make the area a better place to live.”

Hodits wrote on Facebook, on Thursday, Nov. 5:

Today, the area shown on this map between Camdenton and Linn Creek was selected as one of Missouri’s 131 new Opportunity Zones. Starting January 1, 2027, this gives our area another way to attract long-term investment in homes, local businesses and projects that could create year-round jobs.
The zone covers land owned by many people, including some of the land we intend to develop over the coming decades. It can help local businesses and property owners attract money to build, make improvements or expand.
The program encourages long-term investment with federal tax benefits. Under the rural program, investors can:
• Wait up to five years to pay federal tax on a profit they reinvest.
• After five years, pay tax on just $70 of every $100 of that original profit.
• After ten years, pay no federal capital gains tax on growth in the new investment when they sell.
These are federal tax incentives. The designation itself does not raise local taxes or redirect city or county tax revenue. All developments still need the normal zoning and permit approvals that apply to them.
Why this area?
The estimated median family income in this tract was about 65% of Missouri’s median, below the federal cutoff of 70%. Statewide, 523 census tracts were eligible. Applications were submitted for 221 Missouri tracts. Ultimately, 131 were selected statewide, including 68 rural and 63 non-rural tracts.
Across Camden, Miller and Morgan counties, eight tracts were eligible and two were submitted for consideration. This was the only tract selected in those three counties.
This spring, we asked the City of Camdenton, the Camden County Commission and State Rep. Jeff Vernetti to support this tract’s nomination. In Camdenton, we requested a resolution and a letter to the state. Our packet also described a data center as a possible use. I understand why people connected the nomination with that proposal. We have since removed the data center from our plans.
During those discussions, we heard concerns about noise, traffic, water and power use, runoff into the Lake and whether commitments would still be honored if the land were sold. I want to understand these concerns in more detail so we can take them into account in every part of our development.
I want to help bring year-round jobs and opportunity to our community, and I care about what development means for the people who already live here.