A proposal to develop a 22-acre parcel of land into a large scale multi-family complex has received a recommendation from the Osage Beach Planning Commission. The next step for the developer is to gain the approval of the Osage Beach Board of Aldermen.

A proposal to develop a 22-acre parcel of land into a large scale multi-family complex has received a recommendation from the Osage Beach Planning Commission. The next step for the developer is to gain the approval of the Osage Beach Board of Aldermen.

The proposal is to rezone the 22-acres located on the westside of the Osage Beach Expressway on Nichols Rd. from A1 Agriculture/Commercial to R3 multi-family residential. 

If approved, Pearl Capital Management, based in Indianapolis, plans to build what is referred to as a Class A Apartment Community. The first reading of the proposal will go before the board on Oct. 3. 

The apartment complex will feature 1,2, and 3 bedroom units. 

Osage Beach Mayor John Olivarri said the developer choose the location after looking at several other locations within the city. The property offers a prime location on the city’s west end, within walking distance of the proposed soccer destination complex and other recreational resources as well as health care and retail.

Olivarri said the development fits in with the housing market needs for the lake area that have been a priority for the Lake of the Ozarks Regional Economic Development Council. 

Based on the proposal provided to the city, the development will not be subsidized housing. Units will range from $900 to $1,200 a month with amenities.