Thursday, October 31, 2013

RE/MAX Real Estate Symposium last Thursday generated a little more excitement than usual

  • The plans for Towne Harbour near the Grand Glaize Bridge calls for two hotels and a broadwalk shopping area.CBRE, Inc. imageThe plans for Towne Harbour near the Grand Glaize Bridge calls for two hotels and a broadwalk shopping area.

  • The annual Re/Max Real Estate Symposium last Thursday 
    generated a little more excitement than usual when developer
    Kent Nixon announced plans for a major hotel and retail 
    center in Osage Beach.
    Nixon said he plans to build Towne Harbor on the former 
    Kalfran Resort property off Jeffries Road at about the 
    19.5 miler marker of the Main Channel. The major stumbling 
    block, he said, was the success of a Tax Increment Financing 
    (TIF) application he has yet to file with the city of Osage Beach.
    Nixon said his vision is for an “entertainment district” that 
    would include two hotels, a boardwalk of retail shops, restaurants 
    and bars and other facilities. It would be built in two phases, 
    with the first getting underway by next summer.
    “It all depends on the success of the TIF application,” he said. 
    “There won’t be anything quite like this at the lake.”
    Nixon plans to have the letters of intent ready by the end of the
    year and begin the TIF application process at the beginning of 2014.

    The project would be the first major hotel resort/entertainment center
     at the lake since Tan-Tar-A and the Lodge of Four Seasons were built. 
    A similar hotel resort planned by John Q Hammons near the Grand Glaize 
    Bridge failed to materialize several years ago after its TIF application 
    was delayed by a lawsuit, followed by Hammons’ poor health and eventual 
    Nixon said the entire project would take about four years to complete, 
    with the first phase finished about two years after a TIF application 
    is approved by the city of Osage Beach. One of the hotels would be 
    located on the water, while the other would be closer to the Osage Beach
    Nixon said he decided to unveil the plan here because the entertainment
    and hotel segment of the market is beginning to show some age.
    “The public expects a lot, and we seen an opportunity to create a game 
    changer, to swing the lake’s pendulum in the proper direction,” he explained.

    “The lake needs to work on increasing its static population so it doesn’t 
    have to rely on only seven or eight months of income,” he said. 
    “It needs to be more of a year-round retail center.
    While the city of Osage Beach is aware of the development, there has not 
    been an application for a TIF filed.
    City Planner Cary Patterson said Nixon has visited with the city but so 
    far, there has not been any development plans filed with Osage Beach.
    Zoning is not an issue for the proposed development. The current zoning 
    would allow for a development of this type, he said.

    More to read on this at original source:

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