Springfield Business Journal_2020-09-21

$2.00 · SBJ.NET SEPT. 21-27, 2020 · VOL. 41, NO. 9 $45M project joins vacation home scene Over half of Branson Cove properties under contract, sold by Mike Cullinan · mcullinan@sbj.net The development team behind a $45 million vacation rental complex is looking to make a splash on Table Rock Lake. Branson Cove is a 50-home project off Highway 165 and Dale Avenue in Hollister. House sizes range from 2,100 to 5,000 square feet, with floor plans of four to 10 bedrooms. The individually owned rental homes start at roughly $390,000 and go up to $950,000, said Cole Currier, a member of project developer Branson Cove LLC. “It’s far exceeding our expectations,” he said of re- sponse to the project, which launched last fall. “The de- mand in the marketplace for the size of home has just continued to grow.” Currier, who also co-owns Foggy River Realty LLC, said 11 of the development’s homes have sold, with 16 under con- tract. Branson-based Colum- bia Construction Services LLC is general contractor for the project, with four houses at oc- cupancy and nine substantially complete, he said. Work is es- timated to wrap up in March 2022. Foggy River Realty’s properties are 95% residential, specializing in higher-end real estate in Branson and the Table Rock Lake area in Stone and Taney counties, Currier said. The firm’s average sales price is roughly $330,000, he said, which makes the Branson Cove homes a bit of a step up.  However, the desire for larger, privately owned va- cation rental properties is present, he said, pointing to short-term rental services such as Airbnb Inc. and Vaca- tion Rentals by Owner.  “What’s really fueled the expansion has been the ex- istence of VRBO and Airbnb,” he said. “With technology available to do so, people want to own the place and con- trol the rental of it.” MCKENZIE ROBINSON See COVE on page 27 Cole Currier: Branson Cove home prices range up to $950,000. Mount Vernon nets $5M sports complex by Mike Cullinan · mcullinan@sbj.net Over a year after its groundbreaking, the leadership of a Mount Vernon-based multisport development sees the fin- ish line for its construction project.  Sydni Alexander, director of operations for 417 Athletics, said the venue owned by her parents, Earl and Shannon Alexander, had already in recent weeks started scheduling events and taking registration for a basketball league. The intent was to open by early next month at 300 W. Hayward Drive. That plan has been temporarily delayed, due to construction issues for the $5 million, 55,000-square-foot complex.  Alexander still anticipates an October opening, noting weather pushed back the start of construction by several months after breaking ground and site grading in Septem- ber 2019.  “This has been a very interesting process, being at the mercy of the weather and then COVID happening. Our crew basically got cut in half of the number of people they would send to the site, so it kind of slowed things down for a little bit,” she said of general contractor Integrity Devel- opment and Construction LLC’s reaction to the coronavi- rus pandemic in the spring. It’s a venue that the Alexanders have been working to- ward for years, and one they and city officials hope will draw hundreds of thousands annually. Declining to disclose financials, Alexander said her parents funded some of the project out of pocket along with a U.S. Small Business Ad- ministration loan though Old Missouri Bank. The facility designed by Verona-based Werner & Asso- ciates Architects LC features four basketball courts, eight volleyball courts, a concession area, hospitality room for coaches and officials, retail space and a 1,600-square-foot multipurpose room that will offer sports training and ex- ercise classes. Open year-round, 417 Athletics will host sea- sonal sports leagues, camp clinics and large volleyball and basketball tournaments. 2020 Health Care Champions announced | Page 7 SMALL BUSINESS Coffee shops are reinventing their business model to adapt to a new normal, though owners say the community atmosphere remains. PAGE 9 See SPORTS on page 19 Sydni Alexander is director of operations at 417 Athletics, a 55,000-square-foot multisport facility under construction in Mount Vernon.