The completion of the Bagnell Dam in 1931 brought growth and expansion to middle Missouri. Businesses along the iconic Bagnell Strip began opening and visitors from all over the country came to shop the candy stores, souvenir shops, and play at the classic arcade. The Lake area quickly became a magnet for the resort industry as homes and businesses began popping up. Today, the Bagnell Dam Strip still serves as the iconic core of the Lake of the Ozarks.
Although there have been numerous changes to the Strip over the years, the more things change the more they stay the same. In the 1960’s, a California company created two towering fiberglass structures to encourage owners of noisy automobiles to replace their mufflers. Today, the Indian and hillbilly statue Two-Bit still anchor the area.
In 1947, the Dogpatch Store opened as a gas station and tourist shop. Today, the 10,000 square-foot shop offers everything from Lake of the Ozarks souvenirs to home decor, and earns the honor as the longest continually operated store at the Lake. Reese Development is striving to bring a combination of nostalgia and progress to the area.
Since he was born, Nick Reese spent every summer of his life at the Lake. His parents began vacationing here in the 1970’s, and his grandparents even chose the Lake as their honeymoon destination in the 1950’s. The Lake, Nick explained, was a second home to him. Born in the Quad Cities area, Nick, his wife, and daughter are full-time residents on the Strip.
The Strip area felt the impact of the 2008 economic recession, and for sale signs began showing up in business windows. Genuinely concerned about this impact, Reese and his father were confident about the resiliency of the Strip to push through this troubled time. They decided to take action and do something about it.
In 2009, Nick and his father, Dennis, started Lakeshore Holdings & Development, a real estate holding company, and Iguana Watersports, a boat rental and sales company. They sold and rented Cruisers Yachts, Tritoons, ski boats, fishing boats, and personal watercraft at Iguana while Lakeshore owned the land.
Their first location originally housed the Lodge of the Ozarks motel. “When we started, we began buying land and buildings as they became available,” Nick explained. “We wanted to make sure it was in the best hands for the future. Before we knew it, we ended up owning quite a few properties.” They sold Iguana Watersports in 2019, and started to focus on other Strip located developments.
In 2022, they rebranded Lakeshore as Reese Development. Having earned a bachelor’s degree from Colorado State University, a law degree from the University of Wisconsin, and a master’s in real estate development from the University of Denver, the role of president for the company suited Nick. His father, Dennis, remains the owner of the company.
“The Strip has been incredibly resilient, but many old attractions lay rusted and vacant from decades of neglect,” Nick said. “The time to remove the vacant properties, update the infrastructure and prepare for a prosperous future for the residents of Lake Ozark is now.”
Nick said he is not concerned if future development will occur, instead he wants to make sure it’s done properly. “Our biggest challenge is getting our arms around all of the opportunities,” he said. “Once we begin to develop, we want to make sure we’re doing it correctly and focusing on the end goal.”
The last couple of years Reese Development has been working on a feasibility study, and determining land use and scale for the future development. The key, Nick explained, is to respond to the market in terms of what will happen and how fast. Traffic and activity on the Strip, he explained, continues to increase even in the off-season.
The company has been working in partnership with the City of Lake Ozark to identify blighted properties for removal. Many have already been demolished, and the second round of demolition is scheduled for 2025. A number of impressive projects and enhancements are already making a positive impact.
What was originally Campbell’s Lake House, a restaurant and motel dating back to the 1940’s, has most recently been renovated into their offices with an upcoming private event space on the lower level, and short-term, two-bedroom rental apartments on the upper level. The Dam parking lot was renovated and reopened to the public, they completed a joint renovation project with Stewart’s Restaurant of the historic White House, and refurbished and relit the original Shoreland Motel neon sign.
The Two-Bit Town cleanup turned a dilapidated eye sore into a space that will potentially be the site for carnivals, a gathering space, additional parking, and more. More demolition, grading, and water management on the site are planned for next summer.
New tenants will be moving onto the Strip, including the Lake Ozark Jeep Outpost featuring Jeep accessories and merchandise, as well as a potential speakeasy, a local coffee shop, and more. There’s also discussion of opening a cultural center in partnership with the Osage in the old travel center next to the Dam.
Upcoming improvements will include the renovation of the “Boat Rides” lookout tower including new neon signage, and a large beautification project that will tie the Reese Development offices over to RIP Tavern with new sidewalks, landscaping, crosswalks, and upgraded facades. They also plan to address more landscaping throughout the Strip, and create new murals from local artists.
Finding just the right tenant to occupy the former “Blondie’s” property has been a priority, as well as moving, hiding, and the wrapping of garbage dumpsters, the building of new stairwells and fencing, and the introduction of employee parking. There’s hopes to add some electric vehicle chargers, expand event areas for the Strip, and give access to the public for the surrounding nature and waterfront.
“We applied for a community development block grant for $600,000 in federal funding through the Missouri Department of Economic Development,” Nick explained. “We’ll find out around January if we get it. If we do, we’ll be matching an additional 20-percent on top of that, and covering any administrative costs faced by the city.” These funds, Nick said, will finance the demolition of additional derelict buildings next summer.
“One of our biggest priorities has been collecting great tenants and holding onto them,” Nick said. “We want them to be part of the future of the Strip and give them the best chance to thrive and succeed. To that end, we’ll continue our renovation, pursue infrastructure improvements, and bring them into the fold on any new development.” Another focus, he said, is on changing up the tenant mix, and not solely focusing on nighttime entertainment.
“We talk a lot about the ecosystem of the area. Not necessarily the environmental ecosystem, but the community ecosystem,” Nick said. “In the past, there hasn’t been enough focus on the local community, like proper housing and neighborhood amenities, and we want to address that. We want to make this a great place to live, a fantastic place to visit, and a landmark we can be proud of. We do that by making this a one-of-a-kind, All-American downtown. But that can’t happen in one push. We have to take our time.”
With the discussion from some residents that the Strip is not family friendly, Nick said that is something they are taking seriously. “I think everyone has a different definition of family friendly,” he explained, “so I don’t like to use that term. I prefer to say we want to make it multi-generational: a place that appeals to all ages. That there’s something to do at the Strip whether you’re seven, 17, 27, 47, or 97 years of age. Some folks want the Strip to return to the 1950s, and others want to see it turn into Bourbon Street, but I feel there has to be a healthy mix, just like any great town.”
Nick added that Reese Development has an incredible team with seasoned and dedicated local staff, and their long-term vision for the Strip is attainable. “We want it to be charming, organic, and authentic to the Ozarks,” he said. “A truly world class destination. The Strip needs to feel like it’s the home of the Lake of the Ozarks.”
