At the time of construction, the Lake of the Ozarks was the largest man-made lake in the United States and one of the largest in the world. It was created to provide hydroelectric power for customers of Union Electric, but it quickly became a significant tourist destination. Most of its shoreline is privately owned, unlike many flood-control lakes in the region that were constructed by the U.S. Army Corps of Engineers. The relatively stable surface elevation has created conditions suitable for private development within a few feet of the shoreline. There are over 70,000 homes along the lake, many of which are vacation homes. The lake is now a major resort area, and more than 5 million people visit annually.