Construction begins on $319 million subdivision
BRASELTON - Developer Del Webb officially started construction Monday on the Village at Deaton Creek, a senior-oriented subdivision of 1,300 homes in Hall County near Braselton. The $319 million development is on Thompson Mill Road in south Hall County.
It's the first project in metro Atlanta for Del Webb, which falls under the Pulte Homes umbrella and builds "active adult communities" nationwide, including in Florida, California and Nevada. Like other Del Webb developments, the Village at Deaton Creek is for residents age 55 or older, some of whom would probably come from Gwinnett.
Communications company posts large drop in profits
LAWRENCEVILLE - Gray Television Inc., owner of the Gwinnett Daily Post, said its third-quarter profit fell 85 percent, largely because of declining revenues in an off-election year.
The Atlanta-based company posted $1.7 million in net income during the three months ending Sept. 30. That compares to $11.8 million in the same period a year ago. Total operating revenues dropped 13 percent to $75.1 million, down from $86.6 million.
Earnings fell to 2 cents a share compared to 22 cents a share.
Gray Television's third-quarter results reflected the cyclical nature of a non-election year, as political advertising revenues dropped, the company said. Gray has also launched six new UPN channels since the same time a year ago, contributing to higher operating expenses.
Publishing expenses also climbed as a result of expanding the Post's Sunday circulation, the company said. That expansion began in August 2004.
Gray owns 31 television stations in 27 markets. Besides the Post, Gray has four daily newspapers: The Albany Herald, Rockdale Citizen, Newton Citizen and the Goshen News in Indiana.
- From staff reports