Osage Beach Outlet Mall Redevelopment: The $650M Plan

The Osage Beach outlet mall redevelopment cleared its last big city vote on August 20, 2026. Aldermen gave final approval, 6 to 0, to the redevelopment agreement for the nearly empty mall, according to LakeExpo. The project is valued at $650 million and anchored by a Bass Pro store, according to KY3.

Here is what was approved, what’s anchoring it, what nobody has announced yet, and what a project that size means for the rest of Osage Beach Parkway.

What Osage Beach Approved

The deal runs on tax increment financing, which KY3 describes as using tax revenue from the finished project to reimburse developers for their costs. Getting there took most of 2026.

Filled square: done. Open square: next step. Gold square: target date.

The application date, the six-year schedule and the 2031 finish come from LakeExpo’s January 2026 report. The TIF Commission vote was covered by LakeExpo in May, and the June vote in LakeExpo’s June recap. After the August vote, developer Chris Foster said excavation would start once the team has city permits. “We will be moving dirt,” he said.

The financing itself has a lot of moving parts, and we’ll cover how TIF works in its own post. For this one, what matters is that the city’s approvals are done.

Bass Pro Is Anchoring the Osage Beach Outlet Mall Site

Bass Pro Shops first announced a 75,000-square-foot store at 4540 Osage Beach Parkway in August 2025, with an opening planned for spring 2027 if the city approved the project, according to KY3. The revised plan grew it to 86,000 square feet, KY3 reported in May 2026. It will be Bass Pro’s ninth retail location in Missouri, and then-Mayor Michael Harmison said it would create more than 125 jobs.

The store goes at the back of the site, visible from Highway 54. The front is planned as an entertainment district with two hotels, a parking garage and two large entertainment and retail spaces, laid out along a wide boulevard. Co-developer Jeff McMahon told KY3 the site will include Bass Pro, “power retail, small shop retail” and an entertainment center. After Bass Pro’s announcement, the developers also added a food and beverage component and a family entertainment game concept.

The whole site covers 95 acres, and the developer is Osage Beach Investment Group, LLC, which bought the mall in 2024.

How Far the Mall Had Fallen

This is a rescue, not an expansion. The mall once had about 110 tenants and was down to 16 when the application was filed, and the developers say its assessed value has dropped more than 60% since 2015.

Tenants at the outlet mall

At one time

About 110

January 2026

Source: LakeExpo, January 2026.

By the August vote, KY3 counted about a dozen open storefronts. Part of the old mall will be torn down and the rest renovated.

What’s Still Unknown

Announced

$650 million project on 95 acres
86,000-square-foot Bass Pro at the back of the site
Two hotels and an entertainment district at the front
2031 target for the full build

Not announced yet

Other tenants. The team says it has letters of intent but keeps the names confidential.
A construction start date. KY3 reported none in August.
Bass Pro’s opening date. In June the developers pledged its pad site by “early next year.”
The final layout. The site map is a plan, not a permit.

The spring 2027 opening from the original Bass Pro announcement depended on city approvals that took until August 2026, so it’s worth watching for a new date.

What $650 Million Means for Osage Beach Parkway

Osage Beach had 5,079 residents in 2025, according to the U.S. Census Bureau. Divide $650 million by that and you get about $128,000 of planned investment for every person in town, in one project.

1,000+Permanent jobs, projected

Jobs

Consultant John Hansen projected more than 1,000 permanent jobs, new and retained, plus more than 4,000 full-time construction jobs over the build, as reported by LakeExpo in May.

$4.6MNew tax revenue a year, projected

Tax revenue

The same projection put new tax revenue for local taxing districts at $4.6 million a year, including more than $2.1 million for Osage Beach, over the 23-year TIF period.

Those are projections, not results. What doesn’t depend on a projection is where this sits. An anchor that pulls shoppers from across the region, plus two hotels, gives restaurants, fuel stations, service businesses and other retailers a reason to want frontage on the same corridor. And there isn’t much open commercial land left on it, as we covered in our post on Lake of the Ozarks land for sale on Highway 54.

The outlet mall isn’t the only big project underway. Oasis at Lakeport is putting up rides next to the Grand Glaize Bridge, and there’s new construction on the Bagnell Dam Strip. We won’t guess what any of it does to land prices. What we can tell you is that our four properties of Lake of the Ozarks commercial real estate are on the same Parkway, and two of them already have renderings for retail uses.

Have a retail, restaurant or service business that would follow traffic like this? Tell us the use, and we’ll have renderings made that show it on one of our properties.

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