A well-known event center in Dawson County has gone into foreclosure.

Opened in 2004, the Lakeview Center, part of Lakeview Publishing, owed $502,700 on its building and 6.42 acres before going into foreclosure this month.

Owner Vernon Smith said he plans to keep open the publishing side of the business.

We had to weigh out our return on investment, and I dont want to keep putting money in the center, Smith said. Its been great. I really appreciate the support the community has given us. This is a business decision.

Smith had the property up for sale several months, he said, with no takers.

The overhead is too big for the publishing company to keep supporting, he said. Weve been supporting it for years.

Smiths publishing company will remain open in its current location behind Lakeview Center.

Im a publisher, he said, Thats what I do and thats what Im going to keep doing.

Among its print product portfolio, Smith publishes the Dawson/Cumming/Lumpkin yellow page phone books.

Smith said his general manager, Jessica Gaines, recently gave notice she was leaving after being with the center since it opened 10 years ago.

That factored into my decision, he said. The entertainment and event business is tough. You have to work a lot of weekends. Like Jessica, Im a family guy, and the center is just not my thing.

The property, located at 2057 Dawson Forest Rd., will be sold subject to ad valorem taxes.