In 2015, Osage Beach Board of Aldermen passed a proposal to begin development of a $385 million Arrowhead Centre off of Rt. KK. The plans were to utilize a TIF, tax increment financing, to build a center that would house senior living facilities, residential housing, and retail and office buildings.
In 2015, Osage Beach Board of Aldermen passed a proposal to begin development of a $385 million Arrowhead Centre off of Rt. KK. The plans were to utilize a TIF, tax increment financing, to build a center that would house senior living facilities, residential housing, and retail and office buildings. In February, Arrowhead Development Group LLC will be hosting a private grand opening to showcase the completion of its first phase, the Midwest Health senior living community.
Developer Gary Mitchell says the construction has taken the crew around 12-14 months to complete. Currently, the crew is completing the final touches before opening its doors. The facility is housed on 14.1 acres of land on the corner of Rt. KK and St. Moritz Drive. The center has a number of features that Mitchell says makes the community state of the art.
The center houses 170 rooms, with various needs spread across the building. 80 rooms will be opened to those in need of skilled nursing, 80 will be set aside for assisted living and 10 rooms and the lower floors will be specialized for memory care. Each portion of living spaces is set off into a wing of the center that also compliments the rooms with dining and recreation choices to suit the patron.
Mitchell says the senior living center has already started to accept deposits for when it officially opens. To accommodate the members who will be joining quickly after completion, he says they have already hired staff through Midwest Health and have invited them into the facility early to see the layout and better understand the building. With multiple floors and wings to account for, Mitchell says they should have time to be well familiarized.
Arrowhead Development also planned for an outside area for residents to utilize in good weather, including a walking path around the campus and areas for eating meals outside. Those in assisted living will also have access to a full bistro and bar.
“I’d like to think this will be one of the nicest center in the Midwest,” Mitchell said.
As for the continued development by Arrowhead, in the original project phases drawn out in 2015, the next step for the area would be to start on independent living units. When announced, this included 103 one, two and three-plex independent living units and a 128-unit condominium for senior citizens. Mitchell says that talks on the next phase will be happening soon after the senior center has opened and, as of right now, no public information is being released.
As reported in 2016, once completed, the eight-phase Arrowhead Centre should contain about 761,014 square feet of retail and commercial uses, 401 senior living units, 22 residential apartment units and 90 hotel rooms. Estimated cost is $385,731,340 including public improvements such as streets, curbs and gutters, water and sewer, street lighting, landscaping, parking structures and sidewalks. The mixed-use project was described as the largest landmass development in the city’s history, offering between 200 and 400 dwelling units plus restaurants, senior living facilities and possible retail outlets.
The Arrowhead Centre is being developed through a TIF. Tax increment financing is a mechanism which allows developers to capture a certain amount of new tax revenue created by the project to help fund certain development expenses for properties deemed blighted.