The fully-built development is expected to contribute significantly to Louisa County's economy, with an estimated annual impact of $6.5 million. This figure includes $5 million from property taxes and over $1.5 million from transient occupancy taxes. Additionally, the project will generate over 200 full-time jobs and 150 construction and skilled trade positions during the development phase.
The property spans 1,000 acres bordering Lake Anna and is poised to become a premier destination in Virginia. The development plan includes 891 residential entitlements, featuring estate homes and homesites, executive homesites, cottages, villas, townhomes, and luxury condominium accommodations.
Cutalong Golf Club, the centerpiece of the community, boasts a meticulously designed 18-hole championship golf course by renowned architect Tom Clark and was recently ranked as a top 5 best new private courses in America, by Golf Digest. The clubhouse groundbreaking signifies the first major milestone in developing this highly anticipated lakeside resort community.
"Today's groundbreaking marks an exciting milestone for Cutalong and the community," said Joe Walsh, Project Director. "We are incredibly grateful for the overwhelming support we've received from the local community and our partners. It's an exciting time as we bring a premier family lakeside resort and private golf community to Lake Anna, enhancing the charm and appeal of this beautiful area. We are committed to delivering an exceptional experience that will not only enrich the lives of our members, their guests and visitors but also contribute positively to the greater Virginia region."
The ceremony featured remarks from notable county officials such as Duane Adams, the Chairman of the Board of Supervisors in Louisa County, Christopher McCotter, a Member of the Board of Supervisors in Louisa County, Chris Coon, Deputy County Administrator of Louisa County and key figures including Jared Lucero, Partner and CEO of Reef Capital Partners. The event was further distinguished by the presence of The First Lady of Virginia, Suzanne Youngkin, who participated in the ceremonial groundbreaking.
"The economic development at Cutalong is poised to significantly benefit our region and the entire Commonwealth," said Suzanne Youngkin. "Cutalong aims not only to provide homes but also to foster recreation and engagement with nature, promoting wellness and community connection. I'm excited to see how it flourishes."
For more information about Cutalong Golf Club and future community, please visit Cutalong Lake Anna.
About Reef Capital Partners
Reef Capital Partners is renowned for developing luxury resort communities across the United States, maintaining the highest standards of quality. The project, initially approved in 2005, has seen various ownership changes. Recognizing its potential, Reef Capital Partners acquired the Cutalong property in 2019. As the developer, Reef Capital Partners is committed to delivering the exceptional experience consistent with their esteemed portfolio, which includes the Black Desert Resort in Ivins, Utah, and the Marcella community in Park City, Utah, featuring golf courses designed by Tom Weiskopf and Tiger Woods. For more information, visit the Reef Capital Partners Portfolio.
Contact:
Joe Walsh
Project Director, Cutalong
(775) 742-0374
[email protected]
SOURCE Reef Capital Partners
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