published Thursday, January 30th, 2014

Business Briefs: Developer buys waterfront site

Developer buys waterfront site

Evergreen Real Estate has finalized the purchase of an 11-acre waterfront site in downtown Chattanooga to construct one of the largest residential communities to date on the waterfront.

Commonly known as the former Vulcan Materials site, the tract is located off Riverfront Parkway and is adjacent to the Marriott Spring Hill Suites. The Nashville development group has developed plans for 71 single-family homes and 235 mid-rise luxury apartments on the riverfront property.

Financing for the project is in place from Pinnacle Bank and the developers are currently working with the Tennessee Valley Authority to gain the necessary permits to begin construction, according to Aaron White, a principal of Evergreen. The purchase price wasn't revealed.


Mobile ads boost Facebook profits

Mobile advertising accounted for more than half of Facebook's total ad revenue in the final quarter of last year, a sign that the social network born a decade ago in the desktop computer era is succeeding in its goal of being "mobile first."

Facebook's earnings and revenue handily surpassed Wall Street's expectations for the third quarter in a row as it further expand the number of users and the amount of money it makes on mobile ads. Facebook said Wednesday that it earned $523 million, or 20 cents per share, in the October-December quarter. That's up from $64 million, or 3 cents per share, a year earlier.

about Associated Press...

The Associated Press

about Staff Report...

Get breaking news from the Times Free Press on Twitter at www.twitter.com/timesfreepress or by visiting us on Facebook or Twitter at the right:

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.