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PRINCESS ANNE -- The largest housing subdivision proposed for Somerset County -- worth a chunk in prospective property tax revenue -- was put on hold by a cautious Gemcraft Homes claiming prospective home buyer were slow to buy in a slumping national housing market. An apparently quiet pullout over the last few weeks caught county officials by surprise, and bewildered about Gemcraft's intentions for the 32.47-acre abandoned field next to Washington High School, Somerset attorney Kirk Simpkins is seeking answers, County Administrator Charles Massey said Friday. .
In Aug., the Montco home builder posted its first profit drop in 4 years. By Sharon L. Crenson and Brian Louis Bloomberg News Home builder Toll Bros. Inc. has opened sales of its first condominium building in Manhattan, as waning demand for its suburban luxury homes crimped earnings. On Aug. 22, Toll reported a 19 percent drop in fiscal third-quarter profit, its first decline in four years. Sales to the public will commence this weekend, the Horsham company said. "There's no doubt that real estate is down, but certain markets are doing well," said chief executive officer Robert Toll in an interview at the building's Manhattan sales office. "New York has not gone down as the rest of the market has." The Toll building, a 21-story blue-green-glass building at 110 Third Ave., is just south of Union Square Park in Greenwich Village.
San Diego State University received nearly $50 million in philanthropic gifts during the 2005-2006 fiscal year, it reported today. This brings the university's 10-year total to more than $400 million in philanthropic support, nearly twice as much as was raised in the previous 99-year history of the university. "It's rewarding to see the San Diego community value the university's contributions to the region so highly and continue to invest in our talented students and faculty," said SDSU President Stephen L. Weber. "This generous support will help us to educate and inspire the future leaders of the region and the state." San Diego State reported $49.8 million in new gifts, pledge payments and new philanthropic pledges for the 2005-2006 fiscal year. Highlights included: Doug and Betsy Manchester gave $5 million to the university, the largest gift from an alumni couple in the university's history. Of the Manchesters' gift, $3.5 million will be used for presidential initiatives and undergraduate teaching support, while the remaining $1.5 million will be given to SDSU's intercollegiate golf program. In recognition of the Manchesters' long record of service and support of SDSU, the university permanently changed the name of Centennial Hall to Manchester Hall.
Gabriel "Sonny" Emmett Jr., an El Paso real estate developer and home builder who had a hand in developing several West Side subdivisions, including the area around Coronado Country Club, died Monday at age 78. His real estate and home construction companies operated under the name Emmett Inc., and Emmett and Associates. For several years, he also owned Sun Datsun and Rolls Royce, where Casa Nissan is now located in East-Central El Paso. "He was the finest gentleman I ever met," said Guillermo Licon, owner of SLI Engineering Inc., which did engineering and land development for Emmett's company. He also was a friend of Emmett's. "He was a good businessman, fair. He acquired land and had a vision to develop it. He was a good family man." Tom Emmett, one of Emmett's sons who worked with his father at Sun Datsun, recalled how he gave big discounts, and in some cases, gave free cars to people going through bad times.
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