A new development is likely store for Osage Beach. More shopping and restaurants could be the scene along Osage Beach Parkways, after the Board of Alderman approved a Tax Increment Financing (TIF) agreement with the project’s developer.
"This is supposed to be the highest traffic count anywhere on the parkway," Iron Sailor Tattoo Owner Kent Holtz said.
Holtz and other owners in the area say the new Osage Commons development is a hot topic of conversation.
"If you're going to put that much money into something, I can't imagine they haven't done their homework," Holtz said.
If the city gives final approval to the project, the 14-acre area would become home to a more than $30 million retail development.
"It'll be seen from the highway and Osage Beach Parkway as well as the two streets of both sides of it," The Golden Door Motel Owner Geniece Tyler said.
Tyler and her family own the iconic motel, but its legacy along the Parkway will likely soon end.
"It just felt like it was the time. Sad. Happy. But it was the time," Tyler said.
Tyler says it's a groups from St. Louis that would turn the motel, Jake's Steak and Fish Restaurant, and land behind them into a destination for shopping and dining.
"I think it's kind of exciting for everyone. They say it'll compliment the outlet mall that is next door. So, it's just a nice new, something new," Tyler said.
The city's Board of Alderman approved a $4.5 million TIF for the project. It would cocver 15 percent of the cost of the more than 130,000 square foot retail development. It's a big change that Tyler says has been about a year and a half in the making.
"They're a nice group to work with. I think they're very community minded," Tyler said.
She and other business owners say the hope is that the project will help the city grow now and in the future.
"When people come back it's always 'what's new?'" Tyler said.
"The more there is, the better it is for everyone," Holtz said.
The Board of Alderman will still have to consider final approval of the ordinance. A city official says that will likely be on September 22.