Lawrenceville company enters multimillion-dollar real estate deal
NEWNAN - Lawrenceville-based Kennedy Capital Group has entered into a joint venture partnership with Diplomat Companies to build a 1 million-square-foot, $150 million multiuse development on a 125-acre tract on Ga. Highway 34 and Interstate 85 in Coweta County.
The development, Newnan Village Crossing, will hold three hotels, numerous restaurants, medical offices, an assisted residence facility and retail stores in a pedestrian-friendly environment of green space and walking paths.
"We're very bullish on the impact this development will have on enhancing the region's already strong residential, commercial and employment profile," said Marty Kennedy, Kennedy Capital Group's chairman and CEO.
Construction will begin by the end of 2007, with the first buildings scheduled for occupancy within a year.
Einstein HR opens in Lawrenceville
LAWRENCEVILLE - Einstein HR, a full-service Human Resource Outsourcing company, opened in the Starke Building at 195 W. Pike St. in Lawrenceville on Dec. 7.
Its services include payroll, employee benefits, group and individual health insurance, workers' compensation and human resources. For more information, visit the company Web site at www.EinsteinHR.com.
Surge in gas prices pushes consumer inflation higher while economy slows
WASHINGTON - Led by higher gasoline prices, consumer inflation shot up in November by the largest amount in more than two years.
In a troubling juxtaposition, the rise in inflation is coming at a time when economic growth is slowing sharply under the weight of a steep slump in housing and a severe credit crunch.
'We are in store for a period of very weak if not recessionary growth and uncomfortably high inflation,' said Mark Zandi, chief economist at Moody's Economy.com. 'People are going to get hit with both a weaker job market and having to pay more to fill their gas tanks and buy groceries.'
Senate passes bill aimed at helping homeowners caught in mortgage crisis
WASHINGTON - The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
The legislation, approved 93-1, would allow the Federal Housing Administration to back refinanced loans for borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial 'teaser' levels.
The bill also tries to make FHA loans more attractive than risky subprime loans by accepting lower down payments and expanding the eligibility for counseling for homeowners having difficult with their mortgage payments.