Well known developer Raul Walters apparently passed away earlier this week. Walters had a number of development interests in the lake area including the former Wal-Mart sites in Osage Beach and Camdenton.


Well known developer Raul Walters apparently passed away earlier this week. Walters had a number of development interests in the lake area including the former Wal-Mart sites in Osage Beach and Camdenton.
Just two weeks ago, the Osage Beach Board of Aldermen approved a $5 million tax increment financing district for the High Pointe Center, one of Walter’s properties.
Walters was the original developer of High Pointe that had, in recent years, struggled to maintain tenants and had fallen into a state of disrepair.
Walters had planned to bulldoze the shopping center and redevelop the property.
City officials say the TIF project will move forward.
City administrator Nancy Viselli said the city had spoken with Walter’s attorney, Jim Grice. He assured the city that Walters had taken care of all legal matters before he died, including handing over control of the development company.
Walters had been battling pancreatic cancer. Viselli said that according to Grice, plans for the High Pointe TIF had not changed.
The $33 million redevelopment plan was submitted by Walters in September. Plans call for the demolition of the existing structure. A one-story retail center with 150,000 square feet will be built on the site.
Once completed, the development is predicted to generate annual sales of $49.8 million, create more than 400 jobs and bring tax revenue to the city and Camden County of $500,000 and $320,000 respectively.


 Raul Walters
Raul Walters founded Raul Walters Properties in 1970 in Columbia, Mo. After college, he was drawn to the Missouri real estate industry where he gained experience in buying, selling and financing residential and commercial real estate.
Walters built and financed most of the early stores for the Wal-Mart Corporation under a coalition he formed with five S & Ls.
Information provided by raulwalters.com