Despite the overall market slowdown, there's still plenty going on and in the works around Lake Anna
Date published: 11/16/2007
BY RICHARD AMRHINE
The Lake Anna area may not be completely insulated from the troubled real estate market, but the water does seem to provide a steadying influence and a reason for optimism.
"For the people who buy down here, money is usually not the issue. They have the money," said B.J, Blount, broker for Lake Anna Island Realty and developer of Lake Anna Island resort. "They're just waiting for the right time like everyone else."
Blount said he thinks that continuing development bodes well for the area as prospective buyers wait out their reluctance to act in the current soft market.
For Blount, whose dad, William F. Blount, saw the potential of real estate along the new lake's coves and inlets after it was created in the 1970s, the opportunity to build on what his father began has arrived.
"The rooftops are here," said Blount, which means expanded commercial development around the lake won't be far behind.
There are many longtime businesses such as Anna Point Marina and Chelsea Jo's Restaurant, plus dozens of mostly small-scale residential communities. But as residential development of the Spotsylvania and Louisa shorelines has spread outward and spawned new jobs, more people looking for a recreation-oriented lifestyle have been drawn to the area in search of primary residences. There's no question that market has slowed dramatically.
Here are a few examples what's going on at Lake Anna Island and at a couple of nearby residential communities, Anna Cove and Anna Woods Estates. Boat slips at Lake Anna Island will be offered with homes sold in the two residential communities.
Several other commercial and residential development plans are in the works, including a grocery store along nearby State Route 652, and the 400-lot subdivision Noah's Landing.
B.J. Blount has lived in the Lake Anna area since before there was a lake, and grew as the region was transformed from rural outpost to lakeside community. He said he used to fish in the North Anna River and hunt in the area where the lake is now.
“The lake has enriched all of the lives at the lake, in my opinion,” he said. “It has brought money and convenience that would have taken years to get here without the lake.”
Now that he’s running his own real estate development company, Lake Anna Island Realty, he’s out to help the area rise to the next level.
Lake Anna Island enjoys a highly visible lakeside location just across the State Route 208 bridge in Louisa County. The resort will include a marina with 400 covered boat slips, a restaurant, retail shops along a boardwalk, a pool and a yacht club.
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