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LakeLinks.com
4935 Robin's Circle
Osage Beach, MO 65065
P: 573-348-2275
F: 573-348-1696
info@lakelinks.com
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Lake News
New Future for Marina Bay : By Mark Baker

The Father/Son duo of Tom and Mark Kelly are at it again. The St. Louis developers have been very active around the lake, especially in Osage Beach. The Kelly's were behind the Belle Pointe development which they recently sold to another out of state developer which will now be an upper class timeshare project. The Kelly's also recently purchased the Snug Harbor Point and plan to build a four start resort called, "Sunset Bay Resort". They currently are trying to sell this property that is right by the Grand Glaize Bridge for a reported 2.5 million.

However, the Kelly's latest purchase is the Marina Bay Property. The Kelly's $100 million dollar project, called "Compass Point Condominiums". The first phase will included the remodeling and selling of 96 existing two and three bedroom condos. The property will also undergo the building of new docks and a breaker system.

The second phase will include 120 new condos in four story buildings. Each will have lots and an elevator with sizes ranging from 1,400 to 2,600 square feet priced at $120,000 to $200,000.

The final phase will include a 12 story building located directly on the point. These luxury units will range in price from $200,000 to $500,000. 100 units in all will be housed here, making this a very upscale property. The Kelly's also have a restaurant planned for the building called "Tommy's".

Of course, as with any property, the project still has some minor problems to address with the financing and city planner Jeff Green. The project has not yet been approved through Planning and Zoning for Osage Beach.

For more information on this article, you can pick up the Lake Area News Focus for Sept 15-21.
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