LAKE ANNA: THE 2024 VIRGINIA HOT SPOT
By: Andy Lauer and Matt Schubin, Lauer Commercial
Just over 1 hour from DC, Lake Anna is the second largest freshwater body in VA. The lake itself spans three counties: Spotsylvania, Louisa and Orange. It was formed in the 1970’s to provide cooling for Dominion Power’s North Anna Power Station, which currently serves over 100,000 residential and commercial customers (about 17% of Dominion’s VA customers).1
Thanks to employers dramatically improving telecommute capabilities and the demand for less densely-populated area living, hot spots like Lake Anna, VA have risen in popularity throughout the COVID-19 pandemic. In fact, over the past 2 years, house prices in the Lake Anna region have risen over 30%.2 And, what used to be largely vacation home dominated is now a year-round home to many and growing.
Lake Anna is approximately 17 miles long and includes roughly 250 miles of shoreline. It’s divided by a 3,400 acre ‘hot’ (also called private) and 9,600 acre ‘cold’ (also called public) side, averaging about a 10 degree temperature difference between the two sides. Over 100 communities populate the lake’s shores. Today, the lake has become a destination for fishing, water sports and many family-friendly activities. Though the area is primarily residential, more and more commercial establishments and business opportunities are making their way into the four-season community.
As the DC Metro region grows ever outwards, Lake Anna appears to get closer and closer to the city. The improvement of the I-95 HOV/Express lanes makes it even easier to get to as VDOT works to continue them past Fredericksburg. Not to mention, Lake Anna is just over 30 minutes from Richmond, Charlottesville and Culpeper. However, if you’re planning to stay at the lake, make sure to book your stay well in advance as VRBO rentals for the Summer are usually booked by Memorial Day.
While the trend for many to move away from the cities continues, Lake Anna presents a host of exciting business possibilities in the very near future. Plans are underway for a new, waterfront resort hotel. This alone will have a major positive impact on the area by bringing in massive new water and sewer capabilities.3 The 4 lane widening and roundabout on Zachary Taylor Hwy at Wares Crossroads is projected for completion in 2024 to handle the increased area traffic.4 Several residential developments in the pipeline include: Sunset Cove, Lighthouse Point, Mill Run and Elk Creek Landing to name a few. The largest by far is the brand-new golf course, Cutalong, with over 800 projected homes that are now coming onto the market. When it comes to utilities, Louisa County has partnered with Firefly and their power providers to ensure the entire county has reliable internet service by 2024. Louisa has already committed $15million to the project.4 Water quality is a top priority through all this development and efforts by the Lake Anna Civic Association have been stepped-up to accommodate.5 In this booming market, it’s no surprise that the Lake Anna Food Lion was ranked as one of the highest grossing grocery stores on the East Coast.4
It’s clear that Lake Anna is hot on the map and primed for major growth in the coming years. Both residential and commercial opportunities are quickly becoming mainstream chatter on many area investors’ radars. Vacationers are moving in full-time, and new residents are on the rise. If you’re wondering if this might be of interest to you, just GO! – visit and enjoy all that beautiful Lake Anna has to offer for yourself! When you’re ready to make something happen, give us a call at Lauer Commercial. But don’t wait too long, what’s coming by 2024 is happening now!
For more information on listings, lots, commercial and residential opportunities in Lake Anna, visit www.lauercommercial.com or call 703-967-2417 and ask for Andy.
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