Reviving The Outlet Mall: LakeExpo's Coverage
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
Now a shell of its former self, the mall's best hopes lie with a development group who purchased the mall in 2024 and promise big changes on the horizon.
Here's LakeExpo's coverage of the beleaguered business complex's past, present, and future.
Biz Buzz! Big Lake Of The Ozarks Developments To Watch For, In 2026
UpdatedFrom entertainment to lodging to restaurants, some major developments are expected to open this year at Lake of the Ozarks. Here's what to watch for, in 2026...
Lake of the Ozarks Developments on the Horizon
#1. The Oasis at Lakeport
When: Fall 2026
Where: Jeffries Road, Osage Beach, next to the Grand Glaize Bridge
The much-anticipated, free-entry amusement park is slated to open this fall. Developer Jeff Tegethoff says after a lengthy delay, construction is finally moving forward. Drivers crossing the Grand Glaize Bridge can expect to see the ferris wheel, roller coaster, and other rides coming together this spring.
The Marriott resort and indoor waterpark components are expected to open in late 2027.
Angler's Outpost
When: Late-2026
Where: Osage Beach Parkway, near Rt. KK, next to Dollar General
A unique lodging option for anglers is expected to open this fall. The first phase of Angler's Outpost will debut with 24 two-bedroom units. Guests will have access to secure boat parking, RV hookups, and recreation areas.
Camdenton Community Center
When: Summer 2026
Where: Camdenton City Park next to the Aquatic Center
The plan now is for a 14,000 sq ft community center, located next to the Camdenton Aquatic Center in the Camdenton Park. The center will have a full-size gym, a full walking track, a reception area, and a large community room. The 150-person capacity community room will be available to rent and will offer a warming kitchen for caterers to bring food in for events.
The City broke ground in August 2025, and City Administrator Jeff Hooker says they hope to open by June 2026.
Multi-Level Entertainment Complex On The Strip
When: Late-2026 or early 2027
Where: Bagnell Dam Strip, between Neon Taco and Bagnell Dam
Restauranteur and developer George Tucker is eyeing late-2026 or early-2027 to open his much-anticipated multi-level restaurant/entertainment complex next to Bagnell Dam.
Tucker still hasn't landed on the names for the different levels, but the concepts are already firmed-up and construction has been progressing. The bottom level will be a Tulum-inspired pool bar, two middle levels will include various kinds of entertainment geared toward all ages, and the top level will be a Mediterranean rooftop bar.
Tucker says it won't be fully open until the 2027 season, but watch for significant progress and maybe even a partial soft-opening in late-2026.
Bass Pro & The Outlet Mall
When: ???
Where: Osage Beach Outlet Mall
Mum's the word on what else is coming to the outlet mall, but the announcement by Bass Pro Shops that they plan to construct a large Bass Pro there as the anchor-store for the mall's reboot certainly got people buzzing. Developers say they're working on big plans, but nothing else has been revealed yet. Perhaps 2026 is the year we at least get to see the plans.
Sushi By R
When: Summer 2026
Where: Intersection of Osage Beach Parkway and Osage Beach Rd., near Wal-Mart.
From the owners of 1932 Reserve comes this 10,000 square foot multi-restaurant concept.
On one side: Sushi by R, a year-round sushi bar.
On the other: walk through a boutique butcher shop into an American-style grill. If 1932 Reserve's menu is any indicator, expect excellence.
Casinos (2, 1, or 0)
When: ???
Where: Lake Ozark
left: casino/hotel proposed by Lake of the Ozarks Community Gaming
right: casino/hotel proposed by Osage Casinos (Osage Nation)
Don't expect to see any casinos in 2026. But expect to hear a lot about them. With the Osage Nation reaffirming their plans to bring a casino/hotel to the corner of Bagnell Dam Blvd. and Osage Beach Pkwy., and a group of private developers still confident they can get the constitution changed for their casino near the Osage River, the odds are that both will make plenty of headlines this year.
Bass Pro Shops Coming To Lake Of The Ozarks! New Location Planned For Osage Beach Outlet Mall
UpdatedOSAGE BEACH, Mo. — Bass Pro Shops is coming to Lake of the Ozarks.
The company on Friday announced plans to open the ninth retail location in its home state of Missouri, with a new location at the Osage Beach Outlet Marketplace (commonly called the "outlet mall"), which is in the early phases of redevelopment.
The 75,000-square-foot retail destination will be a cornerstone of the future redevelopment of the marketplace at 4540 Osage Beach Parkway, and is contingent on city approvals.
It is scheduled to open in Spring 2027.
“We are all very excited about this expansion in our home state, and to continue to serve the passionate sportsmen and women of Missouri with everything they need for their outdoor adventures,” said Johnny Morris, legendary angler, noted conservationist and Bass Pro Shops founder. “We have enjoyed serving outdoor enthusiasts for the last 50-plus years, and to help sportsmen and women get everything they need for their trips here in the Ozarks is an absolute honor.”
This new location will continue to expand Bass Pro Shops’ presence to serve the passionate sportsmen and women in the state with the widest selection of quality products at the best prices around, providing genuine, friendly expert service.
“We’re thrilled to be part of a project anchored by a nationally recognized brand like Bass Pro Shops,” said Christopher Foster of Horizon Development, LLC, and Dave Mashburn of Mashburn Development, LLC. “Since committing to the redevelopment of the Osage Beach Outlet Marketplace, we’ve been in discussions with Bass Pro Shops, and it’s incredibly rewarding to see this vision coming to life. We look forward to the positive impact this will have on the community.”
Since its founding in 1972, in an 8-square-foot space in the liquor store of the father of Johnny Morris in Springfield, Missouri, Bass Pro Shops has blazed a new trail in the retail experience for outdoor enthusiasts. As millions of families know, a trip to a Bass Pro Shops is more than a retail experience; it’s an adventure, a mini-vacation, a celebration of nature and an educational and enriching outing for the entire family.
People leave a Bass Pro Shops store with more than a bag of outdoor gear. They leave with a smile, a greater appreciation for nature and a dream of spending more time fishing, hunting, camping and hiking.
Experiential retail destination with immersive outdoor features
Lake of the Ozarks has a long and proud history of providing lasting memories for outdoor enthusiasts of all ages, with over 1,100 miles of shoreline, rich environments for anglers and lasting fun on the water, and serving as a major tourist destination and recreational area hosting hundreds of fishing tournaments each year.
Noted worldwide for its natural beauty, abundant outdoor activities and a strong sense of community, Lake of the Ozarks and the entire central Missouri region is a popular destination for those seeking a vibrant lake lifestyle, with opportunities for watersports, golf and the exploration of the surrounding scenic landscape. Its rolling hills, lush forests and stunning lake views offer a variety of gorgeous, picturesque landscapes.
“As Mayor, one of my key goals has been to attract more family-friendly activities and entertainment for both locals and tourists,” Osage Beach Mayor Michael Harmison said. “Bass Pro Shops perfectly aligns with this vision. This major anchor store will draw in new businesses and tourists from around the world, creating opportunities for our community.”
Envisioned as a tribute to the great sporting heritage of the region and Missouri as a whole, the store will reflect the magical outdoor offerings in the Ozarks, building on the signature qualities that define the celebrated Bass Pro Shops experience, combining retail with entertainment, outdoor education and conservation.
In addition to providing customers with the outdoor products they love, a team of talented artists and craftsmen will design the store’s localized imagery to reinforce its immersive outdoor theme. The signature creativity and attention to detail are hallmarks of every experience from Johnny Morris, who often is referred to as “The Walt Disney of the Outdoors” for his knack of creating immersive experiences that connect people with nature.
Proudly standing alongside customers to support conservation
Conservation forms the heart and soul of Bass Pro Shops and is an ethic that dates back to the earliest days of the company. Alongside the customers they serve, Bass Pro Shops over the past decade has proudly donated more than 10% of earnings to support conservation efforts in local communities and across North America.
At locations throughout North America, customers are invited to “round up” at the register through the Bass Pro Shops and Cabela’s Outdoor Fund to join the cause and advance programs aimed at conserving habitat and wildlife, advocating for sportsmen’s rights and connecting new audiences to the outdoors.
10% discount every day to honor those on the front lines
The Bass Pro Shops Legendary Salute Program honors veterans, active military, law enforcement officers, firefighters, and state fish and wildlife agency employees, with a 10% discount on almost everything in all Bass Pro Shops and Cabela’s locations in the United States and Canada (with a 5% discount on firearms and ammo). This program honors those who have or are currently serving on the front lines in Missouri and throughout the country who defend our freedoms, including our opportunities to hunt, fish and spend time in the great outdoors.
Nationally recognized for excellence
Bass Pro Shops consistently earns recognition from prestigious national media outlets, including:
For the fourth consecutive year in 2025, Bass Pro Shops was voted the leading outdoor retailer on Newsweek’s “America’s Best Retailers” list.
In January 2025, Bass Pro Shops was named “America’s Most Trusted Outdoor Retailer” for the fourth consecutive year.
Newsweek recently recognized Bass Pro Shops as one of “America’s Most Admired Workplaces.”
In recent years, Forbes named Bass Pro Shops one of “America’s Best Employers” as part of a nationwide survey of 500 large firms.
At the new Osage Beach location, Bass Pro Shops is expected to employ more than 125 “Outfitters” eager to serve customers and their pursuits in the great outdoors. Employment information, when available, will be posted at basspro.com/careers.
BREAKING: Outlet Mall Project Is Moving Forward, Osage Beach Official Calls Plans 'Very Exciting'
UpdatedOSAGE BEACH, Mo. — The Osage Beach outlet mall is one step closer to a new future, with a critical vote by the Osage Beach Board of Aldermen last week.
On Thursday, July 17, aldermen unanimously passed the first reading of a funding agreement that would allow the city and developers to work together to bring the developers' vision to fruition. That vision, however, has still not been made public.
“We’ve been meeting with the developers over the last several months,” City Attorney Cole Bradbury reported to the City Board of Aldermen. “We’ve seen some great plans, some very exciting plans,” he added.
The mall was bought in November 2024 by Sky Real Estate.
The city will be working with outside consultants to look more closely at the developers’ plans. He said they expect to have an application for a TIF funding agreement from the developers within 60 days or less.
The board’s vote on Thursday authorized the City to accept a deposit from the developers to pay the outside consultants. “So that the taxpayers are not paying for private development,” Bradbury clarified.
Alderman Hoffman added, “This should tell the public that confidentially there’s been a lot of work going on by the developer, by the staff, by our elected officials. I would say that it’s been very positive, and this is probably your first glimpse of knowing that the project is moving forward… I feel very optimistic about the direction it’s going.”
The City Board of Aldermen voted unanimously to enter into a funding agreement with developers of the Outlet Mall.
Relevant portion begins at 1:06:49
Lake Of The Ozarks Outlet Mall Redevelopment Could Break Ground In 2025, But Developers Tight-Lipped
UpdatedOSAGE BEACH, Mo. — A large-scale redevelopment of the Osage Beach Outlet Mall could break ground later this year, but developers say they're not quite ready to reveal what they have planned.
Christopher Foster of Horizon Development has announced that he has reached an agreement with Jeff McMahon of JDM Real Estate Solutions to be the co-developer on the redevelopment of the Osage Beach Outlet Marketplace.
In late 2024, the property was purchased by an affiliated entity of Sky Real Estate in Kansas City. Sky and Horizon then agreed upon a relationship wherein Horizon is leading the team seeking to redevelop the 60-acre property with Sky maintaining an ownership interest throughout the redevelopment.
McMahon has over 35 years of experience developing and designing retail and multi-family projects throughout the country. McMahon served as a Managing Partner of RED Development, LLC, for over 20 years, and the last 5 years as President of JDM Real Estate Solutions. Upon his departure from RED, he has been developing multi-family projects in Milwaukee, Kansas City & Minneapolis. RED Development LLC has developed lifestyle retail projects throughout the Midwest and Southwest and was a trendsetter in retail development for those 20 years.
McMahon said the following:
I’m honored to have been asked by Christopher Foster to be a part of this project. The Foster family has a tremendous reputation in Osage Beach, and I’m humbled to be on their team. Throughout its life, this mall has been an important part of the community, and it can be again. I look forward to working with the city and our team to give it some creative and thoughtful planning solutions to bring it into this new era of retail.
Over the last 5 months, Christopher has done a great job gathering input through informal meetings with individuals and groups within the community. The decision to move the project forward is an exciting one. We’ve been using this time to understand the market.
This week, I had a very productive meeting with the mayor’s office.
He has some great ideas for the project and is giving us his full support. We are both committed to having regular meetings as we get closer to having a meaningful site redevelopment plan and associated financial plan. We’re excited to share it with the community when we can.
We’re thankful for Mayor Harmison and his staff. They understand the process and are giving us the vision we need. It’s still early in the process, but we anticipate that we’ll be breaking ground later in 2025 or early 2026 with an anticipated grand opening in late summer or early fall of 2027.
We have a great team, and we’ve received tremendous input from the retail community. The interest has been outstanding. We’re getting close to the point where we can make some announcements, but not quite yet. Stay tuned.
With New Outlet Mall Ownership, Osage Beach Ends Its Legal Action Against The Mall
UpdatedOSAGE BEACH, Mo. — The City of Osage Beach announced on Thursday evening that it had ended its legal action against the now prior owners of the outlet mall, due to the mall's purchase.
The City had taken action against the prior owners, Simon Property Group, Inc., alleging various health and safety code violations.
In a press release on Thursday, the City said it was officially ending those actions.
The full press release is below:
Osage Beach, Mo. – The City of Osage Beach welcomes Sky Real Estate to the community as the new owner of the Osage Beach Outlet Marketplace. Commercial real estate group Sky Real Estate formally acquired the outlet mall from a subsidiary of Simon Property Group on Nov. 21, 2024.
The City is encouraged by Sky Real Estate’s commitment to improving the property and looks forward to its revitalization for residents and visitors.
Over the past few months, the City and Sky Real Estate worked together to formulate an action plan for the mall that prioritizes life-safety issues. The City’s code violation case against Simon is now resolved and no further action is expected.
The Osage Beach Outlet Marketplace contains 391,000 square feet of retail space on 60 acres along Osage Beach Parkway.
Related
OSAGE BEACH, Mo. — A development group has officially purchased the Osage Beach Outlet Marketplace from Simon.
SOLD! Lake Of The Ozarks Outlet Mall Has Officially Changed Hands
UpdatedOSAGE BEACH, Mo. — A development group has officially purchased the Osage Beach Outlet Marketplace from Simon.
Sky Real Estate announced on Thursday that it had purchased the mall. Though rumors had swirled around the Lake for months that the mall had been bought, the group announced in a press release on Thursday, and one of the developers privately confirmed to LakeExpo that the contract on the mall had closed on Thursday, Nov. 21.
The group published the following press release on Thursday evening:
Osage Beach, MO — Sky Real Estate is excited to announce its acquisition of the Osage Beach Outlet Marketplace from a subsidiary of Simon Property Group, Inc (NYSE: SPG). The 391,000-square-foot shopping center, located on a 60-acre parcel along Osage Beach Parkway, has been a cornerstone of the Lake of the Ozarks region for decades.
The outlet center features key tenants such as Polo Ralph Lauren, Under Armour, Bath & Body Works, and LOFT. Sky Real Estate looks forward to continuing operations and collaborating with the local community partners to create a long-term plan that enhances the property’s role as a vital regional destination.
For more information updates on the Osage Beach Outlet Marketplace redevelopment, please visit: www.osagebeachoutletmarketplace.com
About Sky Real Estate
Founded in 2016, Sky Real Estate invests in commercial real estate properties across various sectors, with a focus on long-term value creation. Driven by an entrepreneurial spirit, Sky brings creativity and enthusiasm to every project. The company places a high value on fostering strong relationships with team members, partners, tenants, lenders, and the communities it serves.
A Long Journey
The outlet mall has long been the subject of concern and curiosity in the Lake of the Ozarks community. Once a major economic driver, the mall was one of the largest attractions in the area other than the Lake itself, and it was also one of the Lake's major employers. But the mall has been in a fairly rapid decline over the past decade.
With the capacity for more than 100 stores, the mall now only has around 20. Meanwhile, myriad health and safety concerns have piled-up at the increasingly disused facility.
4540 Osage Beach Pkwy – looking west – closure of stairs due to corroded steel structure, collapse of landing
The new owners say they have big plans for a bright future. But for now, they're keeping those plans quiet.
Back in Nov. 2021, with a different business partner, Chris and Dan Fosters Horizon Developments made a move on the mall. With the mall under contract, the group at that time had asked the City of Osage Beach for various tax incentives to help redevelop the mall. But the deal fell apart in June 2022, with conflict arising between the developers and the city during the investigatory process.
After that, in March 2023, local developer Gary Prewitt threw his hat in the ring, announcing he and other investors had the mall under contract. But nothing came of that, the contract expired, and conjecture about the mall's future ran wild.
Watch LakeExpo.com for updates and announcements on the group's plans for redeveloping the mall.
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The Children's Place Is Closing At The Outlet Mall; Entire Store's Remaining Inventory Discounted
UpdatedOSAGE BEACH, Mo. — The Children's Place at the Osage Beach Outlet Marketplace is closing, and starting Oct. 3, the entire store is offering a major sale while supplies last.
The kids apparel store is a chain that tailors merchandise for newborns to young teens. The outlet location in Osage Beach is open Mondays-Thursdays from 10 a.m. to 6 p.m., Fridays-Saturdays from 10 a.m. to 7 p.m., and on Sundays from 12-6 p.m.
Starting Tuesday, Oct. 3, the entire store is 60% off.
Staff say the store is planned to close in January, but that could change based on how quickly the inventory is cleared out. On Tuesday morning, the store was bustling with customers, staff reported.
The Children's Place joins many other stores in the long string of exits from the outlet mall, which has declined in the last decade, leaving most of the retail space empty.
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Carter's Leaving Osage Beach Outlet Mall, Joining Two New Retailers Next To Old Navy
UpdatedOSAGE BEACH, Mo. — The children's apparel store Carter's will be leaving the Osage Beach Outlet Mall and moving into the new retail space under construction at Prewitt's Point Shopping Center.
The new retail space is adjacent to Old Navy, which opened in the summer of 2020. According to Andy Prewitt, spokesperson for Prewitt's Point, the retailers coming into that space are:
• A combination Carter's/OshKosh B'Gosh store
• Mattress Firm
Carter's will be the latest in a long string of exits from the outlet mall, which has been in decline for a decade with the last few years seeing the vast majority of retailers depart. Most of the mall now sits empty.
However, an investor group including local developer Gary Prewitt — who developed Prewitt's Point and Eagle's Landing Shopping Center and also owns multiple waterfront restaurant venues at the Lake — has the mall under contract. The group says they plan to redevelop the mall to include family-friendly entertainment options.
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TIFs Don't Mean What Most People Think They Mean
UpdatedThe more I learn about TIFs, the less I'm opposed to them. And the more TIFs that get proposed for local development, the more I think most people don't understand them.
What is a TIF, you ask? Well, it stands for "Tax Increment Financing." But what is it? That's a good question.
First, let's acknowledge a key fact about taxes. Namely: taxation is theft. It's the forcible confiscation of wealth—on penalty of being thrown into a cage or shot if you resist—from individuals who never consented to their wealth being confiscated, by individuals who have a monopoly on violence.
Now, for those of you who are still reading!
TIF stands for "tax increment financing." Many people think this means some kind of freebie handout from the hardworking taxpayers of a community to a lazy-bum developer who isn't innovative, courageous, or smart enough to go get the financing he needs for a big project.
I don't blame them. I used to think TIFs were trash. Corporate welfare. Picking winners and losers. Subsidies for developments that wouldn’t otherwise be economically viable. Other such criticisms.
But the more I learn about TIFs, the more I realize the TIF really just has a branding problem. It has the word "tax" in it, so most people instinctively think it's their hard-earned money being taken from them and handed over to some well-connected developer. That's not really true.
The reality is, TIFs are simply the opportunity for developers to do what we are all trying to do: pay less taxes.
TIFs can be structured in all sorts of ways. They're a complicated funding agreement with plenty of legalese. And each one is subject to negotiation between the developer and the public entity (city/county).
The main question most folks have: "Is this developer getting some big, free chunk of cash from the city?" The answer: No. The actual "where the money comes from" part of a TIF is usually just this: a developer gets to take the difference between the property tax before they improve the property value and the property tax after they improve it, and spend it on helping pay off certain elements of the development.
The Missouri Department of Revenue puts it this way: "The idea behind Local TIF is the assumption that property and/or local sales taxes (depending upon the type of redevelopment project) will increase in the designated area after redevelopment, and a portion of the increase of these taxes collected in the future (up to 23 years) may be allocated by your municipality to help pay the certain project costs[.]"
Even this is sort of confusing. So here's an example.
(And it should be noted, the numbers in this example aren’t perfect, they're just there to make a general point.)
-
Frederick owns 100 acres in Camden County, worth about $300,000. His annual property taxes are $5,000. But he wants to build an amusement park. It’s going to cost $20 million to build, so of course he wants to utilize every possible avenue to fund it. After the amusement park is completed, his property taxes will be $333,000 a year. Nuts! I mean, great for the entities that benefit from the property tax they'll be taking from him (new football uniforms! new digital classroom upgrades! new desks in the courthouse! new cars for all the deputies!), but nuts for Frederick. After all, that $333,000 has to come out of his gross revenues — and he’s still got the monthly debt payment on the development cost, plus plenty of other bills to pay, staff to pay, insurance to pay, buckets of funnel cake mix to buy, and so on.
(Some might wonder why these entities that take people’s money without their permission would have any right to suddenly begin swiping 66.6-times as much money from Frederick every year, simply as a way of thanking Frederick for making an immense investment in a business that's a huge boon to the community. Some might wonder this.)
Anyways, planning his amusement park, Frederick goes to the county to ask if maybe, just maybe, the county would consider allowing him to continue paying the amount of property tax he has been faithfully paying, year-in and year-out—$5,000 per year—for a little while. That would allow him to what would have been the increase in his property tax ($328,000 per year) and use it to help pay off the massive loan on the development costs: infrastructure in particular. But the arrangement isn't forever! Over a period of years, Frederick would begin paying an increasing percentage of that new property tax, eventually paying the full $333,000 every year.
-
Now, that’s a simplification. TIF agreements are pretty complex. Some have other components. But consider: the majority of the Lake of the Ozarks area’s major developments in the past 20 years have happened with the help of a TIF. Prewitt's Point (HyVee/Target/Lowe's/etc), Eagle's Landing (Menards/Kohl's/ALDI-coming-soon/etc), Dierberg's Lakeview Pointe (Dierberg's/Dollar General/Dick's/etc), Osage Beach Commons (new development next to the outlet mall, bringing Hobby Lobby in 2022), Woods Supermarket (Sunrise Beach).
Would those developments have happened without a TIF? Maybe. But maybe not.
Many folks who reflexively kick against any notion of a TIF do so with an attitude I admire: they're sick of corporate welfare, where the government takes taxpayers' money and gives it to the well-connected super-rich so they can get super-richer. They're right to be sick of that. The federal government does this all the time. It's immoral and it's a major part of what's broken in this country. (Exhibit A: Big Pharma during Covid times.)
But that's not a TIF.
When an arrangement between an entrepreneur and a local government allows that entrepreneur to pay for some of his investment costs with the money that the local government would otherwise have confiscated from him… well, that’s not a handout. That's not corporate welfare. And that's not putting taxpayers at risk. Rather, it's an acknowledgement of the fact that taxation destroys wealth and entrepreneurs create it. It's an opportunity for someone to take what would have been lost and put it to good use.
That’s a good deal, and I’m not too worried about it.
Osage Beach Outlet Mall Under Contract! Developer Planning Family-Friendly Recreation & Restaurants
UpdatedOSAGE BEACH, Mo. — The Osage Beach Outlet Mall is under contract to be sold. And the investor group planning to buy it, which includes local developer Gary Prewitt, says they have plans to redevelop it with family-friendly entertainment, restaurants, and retail.
The announcement by the buyers comes amid a flurry of economic activity in Osage Beach: the groundbreaking for the city's biggest residential development in 20 years took place earlier this month, and the City of Osage Beach is working with developers who have plans to build a $300 million entertainment oasis next to the Grand Glaize Bridge. For many, the outlet mall has been a worrying spot amid an otherwise brightening economic landscape in the community.
Once the economic epicenter of the Lake area, the outlet mall's draw to visitors was surpassed only by the Lake of the Ozarks itself. But in the past decade, the mall has been in decline, with droves of retailers leaving in the last few years. Now most of the sprawling complex sits empty, with many areas in need of significant repair. The investor group says they have plans to change that, and said those plans would be presented to the community this spring.
Prewitt is among the most prolific commercial developers at the Lake: his projects include Prewitt's Point (Hyvee to Lowe's) and Eagles Landing (Menards, Kohls, etc), as well as Backwater Jack's and Shady Gator's restaurants.
The mall — owned by Simon — had formerly been under contract, from November of 2021 through the summer of 2022, with locally based Horizon Development and Kansas City based Legacy Development pitching plans to the city. Negotiations over a proposed Tax Increment Financing Plan came to an abrupt halt, however, and the group's contract to purchase the mall expired. Mayor Michael Harmison told Lake Expo earlier this year that he was aware of multiple parties who were interested in buying and redeveloping the mall.
The investor group issued the following announcement on Thursday, March 23:
Local businessman and commercial real estate developer, Gary Prewitt, has teamed up with a group of Missouri investors to revitalize the Osage Beach Outlet Marketplace.
Prewitt has been working with the owner and the City of Osage Beach and intends to present a development plan this spring that will include family friendly recreation opportunities mixed with dining establishments and premium retail stores.
When asked about the project, Prewitt said, “I have fond memories of the Outlet Mall being one of the top shopping destinations in Missouri. It has always been vital to the Osage Beach community, and I hope to help make it once again the premium shopping and entertainment destination at the Lake.”
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The recent headline sounds benevolent, even charitable.
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LAKE OF THE OZARKS, Mo. — The race to bring a casino to Lake of the Ozarks is stirring up dust in Missouri's capitol.
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JEFFERSON CITY, Mo. — A bill filed in the Missouri House could open the door to a long-planned casino at Lake of the Ozarks.
Yesterday I met with the Bagnell Dam Association of Realtors Task Force and representatives of the Osage Nation.
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LAKE OF THE OZARKS, Mo. — A major event center, hotel, and sports facility is in the later stages of development at Lake of the Ozarks.
When you have a good thing going everyone seems to want a piece of the pie. Such seems to be the case with the Lake’s booming economy and the …
It's no exaggeration to say the Lake of the Ozarks will never be the same after 2020 and 2021.
Editor's note: this poll was originally published in Dec. 2021.
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LAKE OZARK, Mo. — The City of Lake Ozark wants to start up conversations with developers who see the city's growing economic potential.
LAKE OF THE OZARKS, Mo. — The Osage Nation has announced they will be building a $60 million hotel complex and casino at Lake of the Ozarks.
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“It’s the bill that won’t die,” says Rocky Miller of his HJR 87, the bill that could bring casino gambling to the Lake of the Ozarks area (but…
Template For A TIF? As Outlet Mall Struggles, Osage Beach Ready For Developers
UpdatedOSAGE BEACH, Mo. — As more retailers leave the Osage Beach outlet mall, Osage Beach mayor Michael Harmison says the city is more motivated than ever to find a solution for redeveloping the once-bustling retail center.
Since developments of this scale often happen as public-private partnerships in the form of tax increment financing (TIF), Harmison says he's taking a more proactive stance. He has directed the city’s Economic Development Director Mitchell Moon to work with city staff and assemble what is essentially a TIF template, to help streamline the process with a potential developer.
TIF agreements generally have two components:
1. Reduced taxes — The developer negotiates with taxing entities to pay property taxes at a reduced amount as the property’s tax base grows thanks to the development. Those dollars are instead funneled toward paying-off the cost of infrastructure that was part of the overall development.
2. Bonds — Cities or counties may use their bonding authority to help developers get more favorable bond rates, but the city or county does not have to be “on the hook” to pay back those bonds, even if the project was not completed. Cities or counties may choose to backstop the bonds if they see the project as critical. (In 2022 the City of Osage Beach raised concerns that the failure of a city-bonded project could impact the city's bond rating and thus future ability to obtain future bonds at optimal rates, even if the city were not on the hook to pay back the bonds. Horizon Development did not ask the city to backstop its preconstruction bonds in its 2022 TIF application, however the city made clear its aversion to preconstruction bonds. In a recent interview, Harmison reiterated, "The board has made it very clear that they are anti- preconstruction bonds.")
Many of Lake of the Ozarks’ largest retail centers have happened with the help of TIF: Prewitt’s Point (from HyVee to Lowe’s), Dierberg’s Lakeview Pointe, Eagles Landing, Wal-Mart, Osage Commons (Hobby Lobby and related retail space). Most recently, The Preserve at Sycamore Creek apartment complex was approved for development using a Chapter 353 tax abatement agreement, which is similar to TIF.
Harmison says he knows of multiple developers interested in redeveloping the outlet mall, and he has been in communication with them as well as with the corporate offices for Simon, which owns the mall but is seeking to sell it. Thus far the only developer who has publicly advanced a plan for the mall is Horizon Development, headed up by the Foster family. Dan Foster is a well-known condo developer throughout Missouri, and his son Chris Foster developed Rock Island village — an assisted living facility in Eldon — and served multiple years as the head of the Santa Monica Pier Board in Santa Monica, Cali., where he helped spearhead the revitalization of the Santa Monica Pier.
Plans proposed by Horizon, in partnership with Legacy Development out of Kansas City, were submitted to the city in early 2022, but negotiations between the city and the developers came to an abrupt end that summer, with each side blaming the other. However, Chris Foster says Horizon has regrouped and is working to obtain financing for a revised plan. He tells Lake Expo he hopes the City and Horizon can let bygones be bygones and work together for the future success of the mall and the community at large. Mayor Harmison agrees. When Lake Expo asked the mayor whether he thought the city could work with Horizon in the future, he said yes, adding, "There won’t be any ill feelings." Harmison said the city is eager to work with any developer who brings a legitimate, executable plan.
For now, the mall is still on the market, as Horizon and other developers work behind the scenes. Foster met with city staff in January to discuss Horizon’s new plan. Harmison also told Lake Expo he has also been in continued talks with other developers who have expressed interest in the mall.
Meanwhile, Harmison acknowledged the city’s TIF policy may see some changes this year.
After negotiations with Horizon ended in 2022, Osage Beach elected officials and staff came together for a work session in the fall, to consider whether the city’s TIF policy was too strict. The meeting came at the request of multiple aldermen, made during a board meeting.
During that work session, which was also attended by local developers, the primary question was: Is Osage Beach’s comparatively strict TIF policy keeping developers away? Aldermen acknowledged the city competes with areas like Branson and St. Louis for development, especially projects focused on visitors and tourism. They heard input from multiple developers including Chris Foster and Gary Mitchell — whose massive, planned Arrowhead Centre development broke ground in 2015 but has so far only seen the construction of Arrowhead Senior Living — and a letter to the board from The Staenberg Group (Osage Commons development) was read aloud by Harmison. While plenty of ideas were brought up during that work session, Harmison acknowledged the city has not taken any action to revise its TIF policy since then.
"That will happen… I’d say in the next two or three months," he told Lake Expo.
He noted the policy is only a guideline and the city board has the prerogative to make agreements outside its parameters, but also acknowledged the policy communicates what the city is willing and unwilling to do: a point multiple developers made in providing feedback about the policy.
In light of that, and in light of the disappointment of 2022, Harmison said the city is now being proactive: the outlet mall TIF template being drawn up by Moon will, Harmison hopes, clearly communicate to developers what the city wants and is willing to give, in order to help a project at the outlet mall succeed.
Related Coverage
OSAGE BEACH, Mo. — In the second store closure at the mall in less than a week, Skechers sta…
OSAGE BEACH, Mo. — The Coach store is permanently closing its location at the Osage Beach Ou…
Once an economic bright spot at Lake of the Ozarks, the Osage Beach outlet mall is now a she…
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The more I learn about TIFs, the less I'm opposed to them.
Another One Bites The Dust: Skechers Is Leaving The Osage Beach Outlet Mall
UpdatedOSAGE BEACH, Mo. — In the second store closure at the mall in less than a week, Skechers staff have confirmed the store will be closing its location at the Osage Beach outlet mall.
The last day for the Skechers store to be open in Osage Beach will be Wednesday, Jan. 25. The store is offering a Buy One Pair, Get Another Pair 50% Off deal. Allegedly, the company is planning to open a store at Battlefield Mall in Springfield.
Last week, Coach announced it was leaving the once-thriving Osage Beach outlet mall. That store's last day was Saturday, Jan. 21.
At its height, the mall had more than 100 stores and was a massive draw for visitors. But the outlet center has seen a rapid decline in the past decade and now the shopping center sits mostly empty.
OSAGE BEACH, Mo. — The Coach store is permanently closing its location at the Osage Beach Ou…
Once an economic bright spot at Lake of the Ozarks, the Osage Beach outlet mall is now a she…
Coach Store Closing Saturday At Osage Beach Outlets; Mall Battles Water Supply Problems
UpdatedOSAGE BEACH, Mo. — The Coach store is permanently closing its location at the Osage Beach Outlet Mall; the store's final day will be Saturday, Jan. 21.
The luxury handbag brand has been a staple at the Osage Beach Outlet Mall for more than 15 years. There is no anticipated change in hours during Coach's final day, and no store-closing sales will be offered. The employees' last day on payroll will be Friday, Jan. 27, according to a source familiar with the store's plans. Coach informed staff at the Osage Beach location sometime around Christmas that the store would be closing in January.
This news comes on the heels of the Osage Beach Outlet Marketplace's temporary closure on Wednesday, Jan. 18 due to "water supply issues." The exact details of the water issue were not shared by the mall, but staff working at the mall reported what appeared to be visible water contamination in the toilets.
Mall management could not be reached for comment regarding Coach's closure or the water issue, and the mall has not announced if the water issue has been remediated. However, the Coach store was open on Friday and plans to be open Saturday for its final day.
Coach corporate offices could not be reached for comment about the company's decision to close the Osage Beach location.
Once an economic bright spot at Lake of the Ozarks, the Osage Beach outlet mall is now a she…
37 Photos That Show The Osage Beach Outlet Mall Desperately Needs A Turnaround
UpdatedOnce an economic bright spot at Lake of the Ozarks, the Osage Beach outlet mall is now a shell of its former self, with a handful of retailers hanging on in hopes that the mall will be bought and redeveloped.
A 2022 proposal to purchase and redevelop the mall fell apart when the development team of Legacy Development and Horizon Development couldn't come to terms with the City of Osage Beach. The developers had sought a Tax Increment Financing (TIF) agreement, and as part of the process outlined in state statute they had to make the argument that the mall was "blighted."
The blight study conducted by the developers included dozens of photos showing the property's dilapidated state: from crumbling stairwells and walkways to moldy interiors.
Since negotiations with the city fell apart, Chris Foster, of Horizon Development, tells Lake Expo his team has regrouped and still hopes to buy the mall from Simon, with new plans to redevelop it. Foster's plans include mixed use, ranging from retail to residential to a sports facility. Horizon has applied for a tourism-focused grant from Missouri's Department of Economic Development, and Foster says they hope to hear back about the grant by February. Meanwhile, Osage Beach Mayor Michael Harmison has publicly stated he has had conversations with multiple other parties who are interested in buying the mall.
What the future of the mall looks like is, for now, uncertain. But for now, here are the photos submitted by Legacy and Horizon in 2022, revealing the worst corners of mall's declining infrastructure.
PHOTOS: "Blight" At The Osage Beach Outlet Mall
The Osage Beach Mall has been on the decline for the last few years but a blight study done by developers in 2023 shows just how troubled areas of the mall have become.
Photos courtesy of City Of Osage Beach Commission Meeting Packet
4540 Osage Beach Pkwy – looking west – closure of stairs due to corroded steel structure, collapse of landing
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – looking west – corroded steel structure and walkway
4540 Osage Beach Pkwy – looking north – trash/debris; poor drainage/erosion
4540 Osage Beach Pkwy – looking west – trash/debris
4540 Osage Beach Pkwy – looking north – illegal dumping
4540 Osage Beach Pkwy – interior – lack of emergency signage
4540 Osage Beach Pkwy – looking south – improper ramp per ADA code
4540 Osage Beach Pkwy – looking northwest – deterioration of shake shingles; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of roof, fascia, downspouts; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of steel structure
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking northeast – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking north – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking northwest – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking north – deterioration of trim
4540 Osage Beach Pkwy – looking northeast – deterioration of stairs
4540 Osage Beach Pkwy – looking north – deterioration of ancillary structure
Past Coverage
OSAGE BEACH, Mo. — Is Osage Beach’s TIF policy too strict? Non-competitive? Does it drive aw…
A reader poll published on LakeExpo, Tuesday evening, reveals an overwhelming majority favor…
Outlet Mall Aftermath: Osage Beach Talks Tough TIFs And A Developer-Friendly Future
UpdatedOSAGE BEACH, Mo. — Is Osage Beach’s TIF policy too strict? Non-competitive? Does it drive away developers?
Those questions and others swirled at the Thursday, Aug. 18, meeting of the Osage Beach Board of Aldermen. There, the board had planned to discuss and potentially vote on proposed changes to the city’s Tax Increment Financing policy. But after hearing from developers and real estate professionals, the board opted to delay those changes.
Alderman Kevin Rucker said it had been his idea to update and clarify the city’s policy, with the obvious context being the recent termination of a funding agreement for the development of a TIF between the city and a development group who hoped to revitalize the Osage Beach Outlet Mall. Rucker said he worked with City Attorney Ed Rucker on the draft.
Stakeholders Ask For Change
Before the board got to that agenda item, however, they heard from multiple citizens who expressed their unhappiness with the city’s approach to TIFs. First, real estate agent Mark Beeler — the listing agent for the outlet mall — explained his perspective on the timeline of events that led to the termination of the agreement. He faulted the city for voting to hire financial consulting group Columbia Capital, when one of the developers asked the city to choose a different consultant and the city had multiple other options. He also responded to Mayor Michael Harmison’s recent claim in a Facebook post that he had been contacted by two other developers interested in buying and developing the outlet mall. “None of them have contacted me,” he said. “None of them have made an offer.”
Beeler was followed by local real estate agent Susan Ebling. Ebling noted the outlet mall sits on land that had once been her family farm. She urged the city to take a developer-friendly approach, saying, “Our current TIF policy… is one of the most stringent, if not the most stringent in the state… and I would vehemently oppose any discussion that would make it more stringent.” Ebling said a developer with whom she had recently been in discussions had abandoned their plans to invest in the Lake area after seeing how the outlet mall TIF negotiations took place. She argued that if the city did not become more friendly toward TIFs, the outlet mall would sit empty for years. “I would request that you change the TIF policy to be more friendly to developers,” she pleaded.
Then spoke Dan Foster, a prolific local developer who was part of Horizon Developments, one of the two companies in a partnership that had been pursing a TIF agreement with the city. Foster told the board they’d been receiving “bad information,” and he indicated City Attorney Ed Rucker was the source of it. “He is a deal-breaker,” Foster said.
Following Dan Foster, his son Chris Foster spoke. Chris Foster asked the city to look into what the TIF policy was in other cities that Osage Beach might consider competitors, particularly into what percentage of project costs those cities set as a TIF cap. “Columbia and Branson are at 20%… the norm is in the 20s,” he said, contrasting Osage Beach’s cap of 15%. “Feel free to go look those up… when we’re talking about the limitations of a 15% TIF policy in Osage Beach, I’ve not seen one that is more limiting than our current policy,” he said, urging the city not to create a policy that limited TIFs any further.
Questions And Decision To Delay
As the board discussed the city’s TIF policy, it became clear they agreed more work was needed.
City Attorney Ed Rucker urged caution. “A sensitive topic like this… should be the subject of a broader discussion,” he advised the board. He also downplayed the import of a TIF policy, saying, “It’s a resolution, it’s not a binding piece of law… It’s a statement of your present intent.”
The question was whether this draft of revisions did indeed reflect what city leaders — and citizens — wanted.
Alderman Kevin Rucker, who had initiated the TIF policy revision process, mentioned, “things I felt need to be changed because of our recent process… things that weren’t followed.” Rucker also defended the city’s current policy, saying, “It’s a friendly policy… and if we’re the only ones that are this strict in the state, why is it that we’ve had the TIFs we’ve had?” He said he’s heard praise for the city’s policy from other cities, who wanted to use it as a model.
Alderman Bob O’Steen — who had been one of the two “No” votes when the city voted 4-2 to hire Columbia Capital — called the discussion a “Pandora’s Box.” He asked what the catalyst was for these changes, and whether any other policy was being used as a model. He called it a “disservice to our community” if the city were to approve a TIF policy without referencing the policies of “communities such as Branson.” O’Steen articulated three areas of the proposed updated policy where he said the city was “so out of line with what other communities are doing that we put ourselves at a disadvantage.” Among them: the 15% cap (O’Steen noted Jefferson City’s policy is 50% and Branson’s is 20% — “How did we derive 15%?” he asked), the clause about additional consideration given to projects over $25 million (he noted Branson does this for projects over $15 million), and the requirement that a project be essentially complete before any bonds could be issued (he said Jefferson City and Branson’s rules about bond issuing are much less restrictive).
Mayor Harmison then suggested the board should consider tabling the discussion for a separate meeting dedicated to working through the TIF policy. Before the board voted to do that (the vote was unanimous), Harmison gave the other board members the opportunity to speak to the policy.
Alderman Richard Ross put it plainly: “Perception is reality,” he said. “If we have a perception that developers think we’re trying to close the door on them, then we need to look at that.” Ross added, “We need to bring in the developer community and get their input on any decisions that we make.” He suggested the board could give a philosophical framework to city staff — such as, “We want a competitive policy” — and then have staff work-up some options.
Alderman Phyllis Marose said she too wanted to work on the policy more. She had come to the meeting prepared to vote 'No' on the proposed changes, she said, adding, “We’ve got to be more transparent, and try to make this as easy as possible for any developers.”
Alderman Tyler Becker, who is the board’s representative on the TIF Commission, said he had initially been okay with the proposed changes. But, he said, “If perception is reality, then we need to work on this.”
Alderman Kallie Schumann agreed as well that she would like for the board to have a workshop and get community feedback.
Mayor Harmison then spoke at length.
“I hold this very near and dear to my heart,” he said. “One of the things I ran on as mayor is pro-growth, pro-development.”
“We want the mall,” Harmison emphasized. “We all want the mall! People came up and talked about losing their health insurance. Nobody wants that to happen.”
He then recounted his perspective on the city’s dealing with Horizon Development (the Fosters) and Kansas City-based Legacy Development. He walked through a timeline of events, none of which contradicted those given by the Fosters. The two sticking-points were in the issuing of pre-construction bonds and the selection of Columbia Capital.
To the bond question, Harmison said, “They’re asking for millions of dollars in kickstart money.” He implied that worried him due to concerns over Legacy Development, who has past lawsuits related to some other projects. “When you hook your coattails on an organization that has so many legal issues currently…” he suggested.
To the choice of Columbia Capital to advise the city, Harmison said, “The developers are telling the aldermen who we can and cannot choose to examine their financials on this risk. Red flag on this one!”
Harmison lamented about “a lot of misinformation here. It’s frustrating for me. It’s frustrating when an article comes out from LakeExpo…” (referencing LakeExpo’s Editorial Opinion dated Aug. 16.)
He then referenced several points he had previously made on Facebook in his response to the LE editorial.
Harmison made a broad appeal to stop “pulling at the public’s heartstrings and making the city look bad…”
He also defended City Attorney Ed Rucker. “[Ed Rucker] is not the bad guy. When I ran for mayor, I did not know about this guy. I’ve gotten to know this guy,” he said. “Mr. Foster, this guy has not torn this deal down.”
Multiple times, Harmison emphasized his support for the Fosters. “We’re cheering you on still,” he said, noting he had recently met with Dan Foster in early July and both had expressed hopes that the project would find a way forward.
"Since then we've heard nothing," he said.
Harmison's clear perspective, and that of several aldermen, remains that the city did not kill the deal, but instead the developers walked away.
Ending his speech, Harmison repeated his plea for people to stop making the city look bad.
The board agreed to discuss potential changes to the TIF policy at a workshop meeting, on a date yet to be announced. That meeting will be open to the public.
Past Coverage
A reader poll published on LakeExpo, Tuesday evening, reveals an overwhelming majority favor…
Osage Beach Mayor Michael Harmison Sr. took to Facebook on Wednesday in response to an edito…
Hopes the Osage Beach Outlet Mall would be redeveloped are all but dead. Developers who floa…
OSAGE BEACH, Mo. — It's the hottest topic in town, but the planned redevelopment of the Osag…
The outlet mall: once a bustling hive of shoppers enjoying a day at the Lake, the now-too-qu…
OSAGE BEACH, Mo. — The City of Osage Beach has paid off its part for the development of the …
Osage Beach To Consider Changes To City's TIF Policy At Thursday's Board Meeting
UpdatedOSAGE BEACH, Mo. — The City of Osage Beach will consider changes to its policy regarding Tax Increment Financing (TIF), at its meeting tonight.
Among the changes:
• a stipulation that any bonds will not be issued until the project is nearly complete and has been issued occupancy permits for 80% of the planned project
• tighter parameters on projects that will be considered or preferred (ranging from TIF term length to the expected wages to be paid at businesses within the development area)
The changes come less than two months after negotiations over a TIF for redevelopment of the Osage Beach outlet mall fell apart, and two weeks after the city approved the second reading (giving final approval) of a TIF for Osage Commons, the development next to the outlet mall where Hobby Lobby recently opened.
Excerpts from Thursday night's meeting packet outlining the changes are below.
The meeting begins at 6 p.m., at City Hall.
87% Of LakeExpo Readers Support A TIF For The Outlet Mall
UpdatedA reader poll published on LakeExpo, Tuesday evening, reveals an overwhelming majority favor the issuing of a TIF for the planned redevelopment of the Osage Beach Outlet Mall.
As of this publishing, the poll, which asks, "Do you think Osage Beach should issue a TIF for the redevelopment of the Outlet Mall?", had received 1,450 votes. 87% voted yes, and 13% voted no.
The poll and live results can be viewed below.
The Osage Beach Board of Aldermen is meeting Thursday evening to discuss — among other things — potential changes to the city's TIF policy.
READER POLL: A TIF for the Outlet Mall?
Do you think Osage Beach should issue a TIF for the redevelopment of the Outlet Mall?
No Agreement: Outlet Mall Plans Break Down, Developer Faults City
UpdatedOSAGE BEACH, Mo. — It's the hottest topic in town, but the planned redevelopment of the Osage Beach Outlet Mall ground to a sudden halt on Friday, as developers reached an impasse with the City of Osage Beach.
At issue: the selection of financial advisory group Columbia Capital to assess the viability of the plan proposed by Osage Beach Marketplace LLC, the development group composed of Kansas City-based Legacy Development and long-time Lake area developers the Foster family and their Horizon Development.
The development team sent a letter to the City the evening of Thursday, June 23, ending their funding agreement with the city, and on Friday, the City replied with a letter of its own, acknowledging the end of that agreement. A few hours later, the City announced it had cancelled the Monday, June 27 special meeting of the board of aldermen.
Mayor Michael Harmison told LakeExpo that as soon as the city's Tax Increment Financing (TIF) Commission voted unanimously on June 13 to recommend approval of the financing plan, the city's public finance legal counsel Gilmore Bell told the city to hire a financial firm to dig into the plan. Three were presented as options, and Harmison said the city, hoping to move quickly, opted for a group they knew had worked with Legacy Development before: Columbia Capital.
It is true that Legacy had worked with Columbia, but according to the development team, the relationship there was a strained one, and they feared a bad outcome based on an assessment by Columbia. At the Board of Aldermen meeting on Thursday, June 16, Dan and Chris Foster entreated the board to choose another financial advisor, but the board opted for Columbia anyways, in a 4-2 vote. Meanwhile, Chris Foster explained, the developers would be required to pay for Columbia's services as part of their funding agreement with the city—nearly doubling the funding agreement budget. (That agreement essentially provides funding from the development team to cover the city's due-diligence costs.)
Any haste went out the window with that vote. Now with the funding agreement dissolved, and the city still having voted to hire Columbia Capital, plenty of things will have to be re-done and un-done.
Harmison explained, "Since it was already passed by the board of aldermen, I cannot simply fire them. It would have to be another vote." He said that could take weeks.
Chris Foster told LakeExpo his financial team was "shocked" at the decision to hire Columbia over their objections, and he took issue with what he says was inaccurate information provided to the board of aldermen by city staff, regarding the legal parameters for hiring such a firm. Foster felt the board might have voted differently, but for that information.
Either way, that vote highlighted a growing sense that the city and developers were not on the same page. Foster says the developers have been unhappy with what they feel is a lack of timely communication from the city. He pointed to a financial analysis commissioned by the city, dated June 10. "We got that on Tuesday, the 21st," Foster said. The development team's letter to the City highlighted other instances of delays in providing the developers with necessary information and documents.
The City’s letter asserted, "It would be extraordinary and careless for us to allow a developer to dictate who may give the City advice on such a complicated and important matter."
But Osage Beach Mayor Michael Harmison disagreed, saying, "We were very open and honest. Very transparent. Accessible nearly 24/7. I was texting Chris on weekends, Sundays, late at night… we have been very open and honest."
Developers' frustration with that perceived lack of communication combined with the City's selection of Columbia Capital despite developers' protests, has strained the relationship. Foster called these kinds of public-private partnerships "very difficult to get done with everybody working together… and near impossible when it’s one-sided."
The TIF plan consists of two major components: bonds issued by the city to raise a large portion of the project's $186 million projected costs, and future tax revenues (based on success of the project) that would be diverted toward repaying project costs.
Even to one of the most frequently-asked questions about the project financing—"What is the actual financial risk to the city?"—the two sides have different answers. Addressing concerns about the city's possible liability for repaying bonds should the project fail, Foster insists the city would have no such liability: "We’re not asking the city to back the bonds," he said. "We even said we would have a different bond issuer if the city were uncomfortable with issuing the bonds." The only potential risk would be to the city's bond rating, if the project failed to materialize, but Foster points out the city's TIF Commission was advised that it would take the failure of many projects this size in order to have a meaningful impact on the bond rating. And as for the city foregoing future taxes on the redevelopment, Foster points out if the mall isn't bought and ends up closing, there will be no taxes to forego.
"There is zero negative if they were to do the deal that we’re talking about doing with them," he said.
But Harmison isn't so sure. The developers have asked for $20-30 million in pre-construction bonds, he said. "The worst thing that could happen is they get $20-30 million in bonds… and nothing happens." In that case, Harmison says he's not sure whether the city might be on-the-hook for repaying those bonds. He said in some historical instances, cities have been held liable for bond repayment in such a situation, while in others they have not been. But he expressed his frustration with not having received—nor being able to give—a clear answer to that question.
"All we were trying to do is make sure the developers could do what they say they’re gonna do," he said.
The City has plenty of reasons to hope the developers can—and will—do it.
The outlet mall, once a high-point in the Lake area economy with well over 100 retailers, has been in dramatic decline over the past several years. Now only a handful of stores remain in operation, and the mall's complete closure looms as a very real risk. At the June 13 TIF Commission meeting, mall employees lined up to tearfully plead with the commission to clear the way for the $186 million redevelopment that they hoped would save their jobs. While fine details of the project have not been made public, developers say they're planning a mix of retail spaces, residential structures, entertainment, and a hotel.
But for now, the entire project is in limbo. The letter from developers ended the funding agreement, so the city's due-diligence actions have ground to a halt.
The contract to purchase the outlet mall expires on June 29; developers say they need city approval of the TIF before they proceed with buying the property. They’ve put in a request to discuss a contract extension with Simon, though Foster said in a previous interview that such an extension could cost $200,000.
Both sides could be described as bewildered and frustrated. But both also sound a note of optimism.
"Everybody wants that thing to move forward and bring more people to the community," Harmison said. "The Fosters are good people. They’ve done a lot of good… hopefully this'll turn out and we can make it work."
"We're absolutely open to working on a deal," Foster said. "But it needs to be a partnership."
He added, "We need to hit the reset button… we all want this project."
Prior Coverage
The outlet mall: once a bustling hive of shoppers enjoying a day at the Lake, the now-too-qu…
The more I learn about TIFs, the less I'm opposed to them.
OSAGE BEACH, Mo. — A critical funding plan to redevelop the Osage Beach Outlet Mall will go …
LAKE OF THE OZARKS, Mo. — The rumors are true: the Osage Beach Outlet Mall is under contract…
Osage Beach To Vote On Outlet Mall Redevelopment, After June 27 Public Hearing
UpdatedOSAGE BEACH, Mo. — In a sink-or-swim moment for a major development team's plans to redevelop the Osage Beach Outlet Mall, the city board of aldermen will meet on June 27 for a vote.
At the special-called meeting, the board will conduct the legally-required public hearing for the Tax Increment Financing (TIF) plan submitted by the developers, Osage Beach Marketplace LLC. That company consists of local development group Horizon Development as well as Kansas City-based Legacy Development.
At a public hearing on Monday, June 13, the city hall board room was filled with members of the public, all who came out to support the redevelopment plan. There, the city's TIF commission heard mall employees and other members of the community plead for the city to take action and help save the dying mall—once a bustling center of economic activity at the Lake. The commission voted unanimously at that meeting to recommend the city board of aldermen approve the TIF.
Developers say their contract to buy the mall from Simon expires on June 29, and Dan Foster, of Horizon Development, said at the June 13 meeting that they did not expect Simon would extend the contract. Even if they were able to do so, Chris Foster of Horizon explained, that contract extension would cost around $200,000.
On the agenda for the June 27 meeting, which will begin at 6 p.m., is a public hearing, followed by the opportunity to vote on seven bills all dealing with the approval of the TIF and the Redevelopment agreement.
The development group plans to spend $186 million on the project, which they have suggested could include a zip-line course, outdoor dining, hiking trails, scenic lighting and affordable housing, along with expanding the retail brands represented at the mall. More detailed plans have been discussed with city officials but will not be made public prior to the approval of the TIF.
Past Coverage
The outlet mall: once a bustling hive of shoppers enjoying a day at the Lake, the now-too-qu…
The more I learn about TIFs, the less I'm opposed to them.
OSAGE BEACH, Mo. — A critical funding plan to redevelop the Osage Beach Outlet Mall will go …
Outlet Mall: Community Cheers $186M Development, As Financing Plan Goes To City Board
UpdatedThe outlet mall: once a bustling hive of shoppers enjoying a day at the Lake, the now-too-quiet retail center was the subject of an impassioned public hearing and vote on Monday evening at Osage Beach City Hall.
There, the city’s TIF commission heard public comment about a proposed financing plan for a massive plan to redevelop the mall into a mixed-use center containing retail, multi-family residential units, entertainment, and possibly a hotel. Developers—locally-owned Horizon Development and well-known Kansas City developer Legacy Development—have not publicly revealed the details of their plans, but they estimate spending $186 million to do it.
They’ve asked the city for a Tax Increment Financing (TIF) agreement, which consists of bonds issued by the city (which the city would not be responsible for paying, should the project fail), and various other tax incentives. Those combined with private capital are the means by which the developers plan to finance the project. But before they buy the mall from Simon (which currently owns and operates the mall), they say they must have a TIF plan approved by the city. The developers have presented letters from financiers, indicating willingness to participate in financing the project, pending approval of the TIF.
Monday’s TIF Commission meeting, brought a nearly full house of citizens interested in the ongoing TIF discussion. The meeting was attended by TIF Commission members, Alderman Tyler Becker, Gail Griswold, James Gohagen, Greg Hasty, Dan Fry, Geniece Tyler, Dave Crane and Fred Catcott and Fire Chief Paul Berardi. Brian Butts and Brad Rozier were both absent. After hearing public comment unanimously in support of the TIF, the commission voted unanimously to recommend the City Board of Aldermen approve the TIF. (UPDATE: The City announced on Wednesday, June 15 that a special meeting had been called, set for June 27, to consider this TIF.)
Overwhelming community support
Speakers representing both development groups spoke on their history and previous developments in the area, including Rock Island Village Assisted Living by Horizon Development and national mall developments by Legacy Development.
The developers also spoke about the few stores that still remain at the mall; the mall can hold up to 110 stores, but currently only 27 are in operation.
They also spoke about their vision for the mall, mentioning a zip-line course, outdoor dining, hiking trails, scenic lighting and affordable housing, along with expanding the retail brands represented at the mall.
“We have had interest from a number of national brands that aren’t currently here that would like to be here," said Chris Foster, of Horizon Development.
During the developers' presentation, there was a brief disagreement amid apparent confusion over whether or not the board intended to vote on the TIF that same evening. TIF Commission member Gail Griswold initially opposed the idea of voting at Tuesday's meeting, which prompted members of the audience to ask why voting was on the agenda if the commission did not intend to vote. The developers emphasized the importance of taking the vote that day, as any delay would put the project in jeopardy. The property has been under contract for many months, but developers have expressed their worry that continued delays in the financing approval process could result in the contract expiring, thus ending the opportunity for this development.
That question being resolved, public comment brought unanimous support for the possible TIF, with most of the comments coming from current employees of mall retailers speaking in support of saving the mall (and speaking on the importance of the insurance benefits that mall stores provide for workers). Other citizens spoke of their love for the mall and their hope that the commission would support its redevelopment.
“I absolutely love my job. I would love to see this project happen because, if it doesn’t, I will lose my job and I will have to move far away and I don’t want to do that, I love Lake of the Ozarks and I want to stay here,” said the store manager of Journey’s.
Some employees spoke on the verge of tears about their jobs and their stores; many also spoke about their fear that if nothing was done, the mall would continue to fall into disrepair and eventually close completely.
David Morgan, director of operations at the mall, provided a sobering perspective. "I've been here four years, and I've shut down half that mall," he said. "I've had to shut down the lights and watch ladies cry. It's going to shut down and I can say that with some certainty. I'm just letting you know that this is going to impact people."
The commission also took 50 letters of support into account.
In a letter submitted by real estate broker Mark Beeler, who is facilitating the pending transaction between the development group and Simon, Beeler wrote, “[Simon] has made it very clear, that if this does not close by the end of the month it is ‘Unlikely the mall will continue operations as it is today. The mall is not in their long range plan and will not be reinvesting in the mall.’ So the likelihood of the mall ceasing operations in the event the TIF is not approved are highly likely.”
Dan Foster, of Horizon Development, is one of the most prolific condo developers in Missouri and well-known in the Lake area. Foster spoke clearly to the crowd and commission, saying, "Osage Beach has a problem and we need to do something about this. This contract ends June 29th, we need to do something now. We can’t wait... They [Simon] told us we’re not going to get an extension."
He closed, saying, "If you look for the good in things, you’ll find it, if you look for the bad things, you’ll find it. Let's look for the good things." That was met by a round of applause from those in attendance.
TIF Commission member Greg Hasty asked for a show of hands among those in the room who supported the TIF. The room was filled with raised hands. When Hasty asked for anyone against the TIF to raise their hand, none were raised.
With a unanimous vote of support from the TIF Commission, the decision about whether to approve the TIF plan now goes to the Osage Beach Board of Aldermen, when they meet on June 27.
Sink Or Swim: Osage Beach Outlet Mall's Redevelopment Must Have City Support, Buyers Say
UpdatedOSAGE BEACH, Mo. — A critical funding plan to redevelop the Osage Beach Outlet Mall will go before the city's Board of Aldermen on Thursday. Developers say the success of the project hinges on city leaders' willingness to get behind it.
The mall, owned by Simon Property Group, went under contract in the fall of 2021: local developers with Horizon Development partnered with Kansas City-based Legacy Development to dream big about the future of what was historically the Lake's single largest retail engine. The mall's centrality to the on-land retail scene at the Lake has dwindled over the past decade, with a decline both in retailers and shoppers. Horizon and Legacy say they have plans for a "world-class destination." But the deal won't happen if they can't get financing.
That's where the City of Osage Beach comes in.
The developers have asked the city for a Tax Increment Financing (TIF) agreement. And while every TIF agreement is different, the main aspects of this one involve the property tax and the city using its bonding ability to bond the project, according to Chris Foster of Horizon Development.
The details of that funding plan will be the subject of discussion on Thursday evening, March 3, as the city Board of Aldermen convenes for their regular meeting. The aldermen plan to conduct a first and second reading of a bill approving the consideration of that funding plan.
Foster says he's been encouraged by the project's reception among city aldermen. "They're all for it," he said. "They're like, 'What can we do to help you?'"
But he emphasized the urgency of the project, and the need to act quickly, so their new vision for the mall can bring clarity to the retailers that remain, and those who may be waiting to see what the future holds.
Mark Beeler, the real estate agent facilitating the mall's purchase, said he believes the fate of the mall's redevelopment will be a bellwether for future major developments at the Lake. He acknowledged the difficulty of getting major corporations to bring big money to the Lake. "They feel like it’s a 90-day season," he said. "That’s why it’s so important that local developers are engaged here and that cities embrace the projects that they want to do."
Mayor John Olivarri said he's eager to see what's next for the mall. "I’m always looking for something that is more family-oriented," he said. "We need more of that down at the Lake… and that place has the opportunity to do that."
Olivarri says there’s a lot of agreement between the city and the developers as to the kind of project they’d like to see: family-oriented, with plenty of places to gather, a modern reinvented space. He said that would be a huge "win-win" for the developers and the Lake community.
Lake Of The Ozarks Outlet Mall Under Contract To Be Sold, 'World-Class Destination' Planned
UpdatedLAKE 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.
Lake Of The Ozarks' Iconic Outlet Mall Is For Sale
UpdatedOSAGE BEACH, Mo. — For decades, two things always went on the agenda for a vacation at Lake of the Ozarks: boating on the Lake, and shopping at the outlet mall. Now the mall, having seen a decline in stores and visitors for years, is for sale.
The 50-acre property boasts approximately 110 storefronts, spanning 16 buildings, most of which underwent a massive roof remodel within the past decade. The mall is owned by Simon Property Group, and is listed by real estate brokerage Pinnacle Real Estate Partners. View the listing here.
The Osage Beach Outlet Marketplace is listed for $25 million.
Shopping for real estate at Lake of the Ozarks? View local listings now: LakeExpo Real Estate.
Outlet Mall Moving Forward: Osage Beach To Vote On First Steps Toward A TIF
Updated**UPDATE, 2/6/26 — The board on Feb. 5 approved sending the application to the TIF commission, and set a date of April 1, 2026, at 5 p.m. for the commission meeting and public hearing.
OSAGE BEACH, Mo. — The City of Osage Beach has received a Tax Increment Financing (TIF) application from the development group planning an overhaul of the beleaguered outlet mall, and will decide on Thursday, Feb. 5 whether to pass the application on to the city's TIF Commission. The Board of Aldermen will meet at City Hall at 5:30 p.m.
A TIF is a funding tool used by many developers; essentially it is an agreement between a government entity (county/city/state) and the developer to offer incentives such as a property tax freeze or bond opportunities. The TIF agreement is then used by the developer as part of the project funding package.
For the Osage Beach Outlet Mall, the development group known as Osage Beach Investment Group, LLC, is seeking such an agreement. LakeExpo has not yet received the details of the application.
In the TIF application process, a developer must first submit an application, then triggering the activation of the TIF Commission.
The commission reviews the application and then holds a public meeting, where the public may offer comment on the application.
The commission will then vote on whether to recommend approval or rejection of the application to the City Board of Aldermen. That recommendation is then passed to the Board of Aldermen, which has the prerogative to approve or reject the application (the board considers the TIF Commission's recommendation but is not required to abide by it).
The public hearing for this TIF application will be set for Wednesday, April 22, at 5 p.m. at City Hall, pending the board's vote on Feb. 5.
Background
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
The Outlet Mall Rescue: Developers Unveil $650M Plan For Lake Of The Ozarks Destination
UpdatedOSAGE BEACH, Mo. — It would be one of the most ambitious developments in Lake of the Ozarks’ history — and by far the most expensive.
The investment group with plans to redevelop the nearly-empty Osage Beach Marketplace (commonly known as the “outlet mall”) has revealed details about their aims, in a financing package application submitted to the City of Osage Beach.
In the Tax Increment Financing (TIF) application submitted on Jan. 28, 2026, Osage Beach Investment Group, LLC laid out its plans for a $650 million multi-phase redevelopment, spanning a six-year period, with completion expected in 2031.
What Will They Be Building?
The development group confirmed in the application it has already locked-in its anchor-store, though it did not give any specific names. However, previous public statements from the group have confirmed Bass Pro Shops, as the project’s anchor. “We’re thrilled to be part of a project anchored by a nationally recognized brand like Bass Pro Shops,” one of the developers, Christopher Foster, told LakeExpo in 2025.
And while the group stated in the TIF application that the businesses with whom it’s currently working are still confidential, they did describe a general mix of uses at the 95-acre site:
• Retail
• Restaurants
• Hotels
• Entertainment
• Recreation
• Infrastructure (roads, utilities, signage, stormwater, parking, landscaping)
What Are They Asking For?
When developers ask a public entity (city/county/state) for certain tax incentives, they must provide a “But-For,” which is essentially an explanation about why the project would not be financially viable without those incentives. In this redevelopment plan, the group says that without the incentives, their planned development’s return-on-investment would be -1.44%. In other words, a non-viable project.
But, they argue, the incentive package they’re requesting (outlined below) would make the return-on-investment an estimated 6.38%.
The developers are seeking a wide array of public incentive tools to help fund the project, totaling an estimated $149 million (approximately 23% of the total project cost).
Those tools include:
• TIF revenue (PILOT + EATS) — $40.4 million — this would take some of the new tax revenue generated by the project (property tax increase due to increased property value, and sales tax increase due to all the new economic activity) and allow it to be funneled toward repaying certain infrastructure-related project costs — rather than going into the general revenue for the various taxing districts. This is not a permanent arrangement, and the TIF would be phased out after a set number of years, with all tax revenue eventually being restored to the respective districts.
• State supplemental TIF — $24.6 million — often known as a “super-TIF,” this provides state-level tax redirects on the sales-tax side, similar to the local district TIF
• City hotel sales tax rebates — $2 million — a rebate of the city’s general sales tax revenue that would be generated from hotel rooms
• CID revenue — $48 million — a special district (Community Improvement District) created specifically for this development that can add an additional tax onto transactions within the development (this mechanism has been used for multiple developments at the Lake)
• TDD revenue — $22.5 million — a special district (Transportation Development District) specifically for this development that can add an additional tax onto transactions within the development. The revenue from that tax would go toward paying specifically for road infrastructure (this mechanism has been used for multiple developments at the Lake)
• Entertainment district revenue — $11.2 million — a special district allowed by Missouri law that can impose certain taxes that would support development of entertainment-focused amenities
Dreaming of running an event or wedding venue? Scrap the building plans: there are multiple …
The TIF Approval Process
A TIF is a funding tool used by many developers; essentially it is an agreement between a government entity (county/city/state) and the developer to offer incentives such as a property tax freeze or bond opportunities. The TIF agreement is then used by the developer as part of the project funding package.
In the TIF application process, a developer must first submit an application, then triggering the activation of the TIF Commission.
The commission reviews the application and then holds a public meeting, where the public may offer comment on the application.
The commission will then vote on whether to recommend approval or rejection of the application to the City Board of Aldermen. That recommendation is then passed to the Board of Aldermen, which has the prerogative to approve or reject the application (the board considers the TIF Commission's recommendation but is not required to abide by it).
The public hearing for this TIF application is set for Wednesday, April 1, at 5 p.m. at City Hall.
Background
At its peak, the Osage Beach Outlet Mall had upwards of 110 tenants and was a bustling center of commerce in the city. Now, nearly all the storefronts are vacant, with a mere 16 tenants. Meanwhile, some areas of the mall’s infrastructure are in extreme disrepair, and assessed values at the mall have dropped by more than 60% since 2015, according to the developers — that means a dramatic dip in tax revenues.
PHOTOS: "Blight" At The Osage Beach Outlet Mall
The Osage Beach Mall has been on the decline for the last few years but a blight study done by developers in 2023 shows just how troubled areas of the mall have become.
Photos courtesy of City Of Osage Beach Commission Meeting Packet
4540 Osage Beach Pkwy – looking west – closure of stairs due to corroded steel structure, collapse of landing
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – interior – presence of mold
4540 Osage Beach Pkwy – looking west – corroded steel structure and walkway
4540 Osage Beach Pkwy – looking north – trash/debris; poor drainage/erosion
4540 Osage Beach Pkwy – looking west – trash/debris
4540 Osage Beach Pkwy – looking north – illegal dumping
4540 Osage Beach Pkwy – interior – lack of emergency signage
4540 Osage Beach Pkwy – looking south – improper ramp per ADA code
4540 Osage Beach Pkwy – looking northwest – deterioration of shake shingles; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of roof, fascia, downspouts; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of steel structure
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of steel structure; failure of finishes
4540 Osage Beach Pkwy – looking northeast – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking north – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking west – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking northwest – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking east – deterioration of siding; failure of finishes
4540 Osage Beach Pkwy – looking north – deterioration of trim
4540 Osage Beach Pkwy – looking northeast – deterioration of stairs
4540 Osage Beach Pkwy – looking north – deterioration of ancillary structure
Christopher Foster, a Lake of the Ozarks native whose family has been in development at the Lake and elsewhere in Missouri, had previously approached the city with a $186 million redevelopment plan in partnership with another developer, in 2021. Negotiations with the City fell through at that time, and Foster’s group had not yet purchased the mall (though they had it under a contingent contract).
In 2024, Foster partnered with different developers and the group announced they had purchased the mall.
In 2025, Bass Pro Shops announced they would be coming in as the anchor store for the mall’s redevelopment.
The submission of the TIF application in January 2026 marks a significant move forward and is the first time the full scale of the project has been made public.
More exclusive LakeExpo coverage below…
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
New Outlet Mall Development Map Reveals Plans For Hotels, Entertainment, And Bass Pro
UpdatedA map showing the planned layout for the redevelopment of the Osage Beach Outlet Mall has been obtained by LakeExpo, and it reveals more details about the developers' plans for the site.
It should be noted that this layout is likely tentative, as it appears to be modified from an earlier map that had been on display at a recent public event. The developers have been tight-lipped about the project layout and planned retailers, but they are expected to reveal more at the April 1 TIF Commission public meeting.
"The city would love to see this project come to fruition," Osage Beach Mayor Michael Harmison told LakeExpo. "We have the very first stages of the TIF application, but the city will do their due-diligence... we would certainly love to get public input before any decision is made."
One of the developers, Chris Foster, has told LakeExpo he's "excited" about the development, but is still keeping quiet about project details until the TIF hearing gets closer.
Here are our takeaways...
• The Bass Pro Shops store will indeed be located at the back of the development, with trees along the ridgeline to be removed for visibility from Highway 54 (labeled "Retail I" on the map)
• The layout shows an entertainment district towards the front of the development, with two hotels, a parking garage, and two large entertainment/retail spaces
• The streets within the complex have a "boulevard" style setup, with green, tree-lined medians and two roundabouts
• Rather than long lines of retail spaces like the outlet mall currently has, the retail spaces on the map are arranged into smaller clusters
• Some of the retail areas in the center of the development — marked "Bldg" — represent the preservation and/or renovation of existing mall structures
The public hearing for the TIF application is set for Wednesday, April 1, at 5:30 p.m. at City Hall.
Prior Coverage
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
NEW Lake Of The Ozarks Outlet Mall Renderings Released By Developer; Bass Pro 'Very Excited'
OSAGE BEACH, Mo. — Community leaders, developers, and the public gathered on April 30 to hear more details and discuss the plan for redeveloping the Osage Beach outlet mall.
The meeting was the second TIF Commission public hearing; the first was held on April 1. The public hearings are part of a required process before a TIF is approved: a hearing must be held, the TIF commission must vote on whether to recommend approval or disapproval, and then the City Board of Aldermen makes the final decision on whether to grant the TIF.
The full meeting video can be viewed at the end of this article.
TIF stands for Tax Increment Financing, and is shorthand for an array of financial incentives often used by cities and counties to help developers with major projects. Any project approved for a TIF would have to be on land deemed by the city to be “blighted,” and TIF plans typically include redirection of some tax revenues to pay for certain aspects of the project’s infrastructure.
Representing the development group, Chris Foster fielded questions and comments from the public in attendance as well as commission members.
Foster emphasized the project’s expected economic impact, citing:
• 1,600 jobs
• $55M payroll
• $300M annual impact
Regarding the anchor store, Bass Pro Shops, Foster said “Bass Pro is fully engaged,” calling them “very excited about the project.” He acknowledged the lease agreement with Bass Pro Shops was not signed yet, saying a few small details were still being worked out. But he said the developers expect that lease agreement to be signed “within a month.” He noted the size of this Bass Pro Shops store would be “twice the size of Branson,” adding, “It's actually, I think, bigger than Colombia.”
Foster has also released photo renderings of the planned Bass Pro Shops as well as the Outlet Mall.
New Renderings For Osage Beach Outlet Mall Redevelopment
photos provided
New Bass Pro Shops Renderings - Osage Beach
One woman at the meeting — local resident Vicki Simo — asked Foster about why more details had not been shared regarding other specific stores coming to the development.
“We can't get any kind of information from anybody,” she said. “It would just be nice for the residents here um to get an idea of what kind of stores are going to be there.”
“We are under NDA,” Foster explained. “So we look forward to telling everybody what's coming. And I will tell you, it is a full scope of stores that everybody is going to love. These are nationally recognized very reputable stores, stores for men, women, everybody.”
Commissioners received the most recently revised redevelopment plan just hours before the meeting, according to consulting attorney Mark Spikerman, who added they would “spend the next few days reviewing that.”
A decision on recommending the TIF to the City Board of Aldermen was tabled for another meeting — set for May 12. That will allow the city to review the revised redevelopment plan and give the proper advance notice to the public. But a vote to approve the plan appears likely: several commissioners voiced their support for it. “This is what TIF legislation is designed to be,” Brian Butts said. He also noted, “That property is truly blight and it’s hurting the community.” Another commission member, Jacob Neusche, said, “I do truly believe that that property is blighted and it needs to be revitalized… I support you guys. I hope you figure it out sooner rather than later.”
The TIF commission will meet again on Tuesday, May 12 in what could be the final public hearing before the commission votes on its recommendation to the City Board of Aldermen.
April 30, 2026 TIF Commission Meeting
Meeting Agendas: https://osagebeach-mo.gov/ArchiveCenter/ViewFile/Item/4505
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
Outlet Mall Revival: Tax Incentive Gets Thumbs-Up, As Developers Eye Bass Pro Groundbreaking
UpdatedOSAGE BEACH, Mo. — Redevelopment of the nearly-vacant Osage Beach Outlet Mall took a major step forward on Tuesday, May 12, when the Osage Beach TIF Commission voted nearly unanimously to recommend approval of the developers’ plan.
This was the third TIF Commission meeting, and commissioners voiced general satisfaction with the plan and optimism about the future of the mall. With the TIF Commission’s approval, the proposal now goes to the Osage Beach Board of Aldermen for their consideration.
John Hansen, with IRR Corporate and Public Finance — the public finance consultants for the development team — told the Commission the project investment was expected to be over $640 million. At that amount, he said, the project’s estimated return-on-investment without incentives such as a TIF would be -1.44%.
The TIF plan requested:
• 100% of the PILOT (Payment In Lieu Of Taxes) tax revenue from the project — e.g., the incremental property tax revenue created by the project (beyond the property tax revenue currently generated on the property)
• 50% of the economic activity (sales, etc) tax revenues from the project
“The base revenues will continue to generate property tax and sales tax revenues as they do today for the project. We're simply requesting a portion of the incremental taxes that we generate from the project,” he explained.
The additional incentives include a city hotel sales tax rebate, CI and TDD sales taxes, an entertainment district sales tax, CI special assessments, which are an additional assessment that go on the property tax bill for the property owners of the project, and a chapter 100 sales tax exemption on construction materials.
Hansen said those incentives would add up to about 10% of the total project cost and would change the -1.44% projected return on investment to an estimated 6.55% return.
He cited the following projected benefits to the city and county:
• $4.6 million in new annual tax revenues for local taxing districts, with over $2.1 million in new annual tax revenues for the city of Osage Beach, (annually, during the 23-year TIF period)
• $110+ million in total new tax revenue over 23 years to the local taxing districts.
• 4,000+ full-time construction jobs, anticipated over the course of the development of the project.
• 1,000+ permanent jobs, including new and retained jobs within the project.
Developer Dave Mashburn spoke to the Commission during the meeting. He revealed his background having worked for renowned hotelier John Q Hammons for years and later serving as Director of Development for Johnny Morris’ Bass Pro Shops. So, he said, when they began looking for an anchor store in the redevelopment of the outlet mall, he reached back out to his old employer.
“I reached back out to Bass Pro and had some great discussions with them,” he said. “They honestly weren't really familiar with the area. So, we did a little educating with them and kind of brought them up to speed.”
Mashburn said the Bass Pro team loved the idea of helping anchor a redevelopment. “And certainly the location with the adjacency to the highway and the visibility that that provides really caught their attention,” he said. In the developers’ map, the Bass Pro Shops is shown at the very back of the site, with visibility from Highway 54.
Then, Mashburn said, after Bass Pro was on board, things got even more interesting.
“After they made the press release, just a few days later, they called and significantly expanded the project,” he said. “They wanted to include a food and beverage component and kind of a family entertainment game concept that they're doing. So that was another big vote of confidence in the market for them.”
Developer Chris Foster also spoke to the Commission at length, telling them they planned to start construction “immediately once we get the TIF ordinance passed.”
He emphasized, “You’ll see immediate progress.”
There was an urgency to Foster’s presentation as well. “We need to get started ASAP,” he said, “because we are under a timeline to deliver Bass Pro a pad site.”
He also explained more about what made Lake of the Ozarks appealing to Bass Pro. “The discussion about bringing Bass Pro to the lake has been decades,” he said. “Maybe we were overlooked for different reasons… But whenever you look at the number of fishing tournaments that are here… I think there's 141 bass tournaments every year. Dave Mashurn was helpful with me looking all these numbers up and then communicating those to the Johnny Morris team.”
Foster said once the Bass Pro team saw that information, their response was, “Why are we not there already?” He said that response felt like vindication, noting, “The Lake has been overlooked for quite some time.”
The motion to approve the developers’ plan passed, with 10 voting Yes and 1 commissioner voting No. The No vote came from Commissioner Jacob Neusche, who said he was in favor of the project but was compelled to vote No as a member of the Camdenton School Board. “That no is based solely on school board policy regarding the TIF structure, not the merits of the project itself,” he said.
By contrast, Commissioner Brian Butts, who also serves on the Camdenton School Board, voted Yes.
Butts said his perspective on the proposal is that the City of Osage Beach is “considering taking a financial risk for the hope of a return.” He added, “If nothing happens with this property, [there’s never] going to be a return.”
New Renderings For Osage Beach Outlet Mall Redevelopment
photos provided
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
Outlet Mall TIF Is Approved By Osage Beach; Here's What Comes Next
UpdatedOSAGE BEACH, Mo. — The plan to redevelop the ailing Osage Beach Outlet Mall took a huge step forward on Thursday, June 4, with approval of a Tax Increment Financing agreement by the City of Osage Beach.
City aldermen unanimously approved the second (final) reading of the agreement, which includes a variety of incentives ranging from sales tax exemptions on construction materials to the redirection of some tax revenues toward paying for infrastructure improvements.
In all, developers expect a project cost of over $640 million.
The next step, according to Chris Foster — one of the members of the development team — is to wrap up the Redevelopment Agreement with the City. That will allow crews to begin mobilizing for construction. Foster said the developers have pledged a pad site for the anchor store, Bass Pro Shops, by early next year.
The development team has not revealed any other names but has said it has Letters of Intent from other retailers and businesses to operate at the mall once it has been redeveloped.
A map released by the team shows retail spaces arranged in small clusters, with a large boulevard as the main travel corridor through the area. An entertainment district will sit towards the front of the development, with two hotels, a parking garage, and two large entertainment/retail spaces. At the back — visible from Highway 54 — will be Bass Pro Shops.
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
'We Finally Got There': Osage Beach Approves Outlet Mall Redevelopment Deal
UpdatedOSAGE BEACH, Mo. — It was a long journey to get there, but on Aug. 20, Osage Beach aldermen gave their final approval to the Redevelopment Agreement for the nearly empty outlet mall.
After the board's 6-0 vote on the agreement, Mayor Richard Ross announced, "I think we just passed the outlet mall agreement." Then he addressed Chris Foster, who represents the development team: "Look forward to working with you all, Chris. Go get 'em, Foster."
The passage of the agreement comes after some final tweaks, added by the city for the final version. They include:
• If the developer uses a pay-as-you-go TIF reimbursement method, the City can hire a consultant to help administer it, at the developer’s cost. That cost can later qualify as a reimbursable TIF administrative expense.
• The Board gave itself authority, at its sole discretion, to waive certain financing preconditions in the agreement. In other words, if the developer later needs flexibility on financing requirements, they can come back to the Board and ask for a waiver instead of formally amending the entire agreement.
Board members congratulated Foster on having cleared this major milestone in the project.
"We’re not driving anymore," Alderman Kevin Rucker added. "So it’s up to you now to to carry that torch now."
In an interview with LakeExpo, Foster expressed his relief that the agreement had cleared the city, noting excavation would begin as soon as the development team had permits from the City. Time is of necessity now: Bass Pro Shops has announced its intent to build as the anchor-store in the mall, and the developers have a promised timeline in which to deliver a developable pad to Bass Pro.
Very soon, Foster said, "We will be moving dirt."
The outlet mall was once a major pillar of Lake of the Ozarks' economy.
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OSAGE BEACH, Mo. — The future is still uncertain for the Lake of the Ozarks outlet mall, loc…