It’s a bust. In a recent letter, I commended the wonderful future that we can look forward to in Citrus County after the Cabot Organization purchased the golf courses and clubhouses in Sugarmill Woods, Southern Woods and World Woods. I’m sorry to say that every word was completely wrong.
At a Zoom meeting arranged by the Cabot organization on Jan. 19, it was revealed that they intend nothing to do with the Sugarmill Woods and Southern Woods properties other than find someone to buy them and take them off.
They say these properties don’t fit their business model of high-end luxury golf resorts. Therefore, they are already trying to find another buyer. They specifically said they will not do anything to renovate or improve any part of these properties. There will be no changes, no improvements. They will keep the properties at their current standard, but no more. They say they will ensure the next owner is interested in developing and improving the properties. But of course we all know they sell for the best deal, if any. This package of courses, clubhouses and the Oak Village recreation complex has been on the market for the past three years. So why should we expect a buyer to magically show up anytime soon?
However, they love the opportunity they find in World Woods and they intend to make a lot of massive improvements there to make it something that fits their business model. But all of World Woods is Hernando County, so that doesn’t do much for Citrus County. There is no doubt that golfers who live in Citrus County will head to the new World Woods once it is complete. Similarly, a large majority of all new employees are hired from Hernando County. All of this will ensure that Hernando County receives the greatest economic benefit and Citrus County receives the remnants.
Get more from the Citrus County Chronicle
Reading between the lines and knowing that all of these lots, including World Woods, were owned by a person in Kyoto, Japan, I’m sure Cabot only wanted to buy World Woods, but had to buy the whole deal in order to do that get what they wanted. So they’re stuck with a set of qualities they never wanted.
Like I said, it’s all a flop.
Kenneth J Clark