Your new condo? The sports desk

Your new condo? The sports desk

The original engraving of Joseph Pulitzer’s retirement message of 1907 has been removed with much of the interior of the former headquarters of The St. Louis Post-Dispatch.

The carved glass will be replaced with a reworked version of the building. But the magazine has already moved into a small house in a nearby building owned by the Starwood Group, a developer and investment firm that has big plans for its old newsroom.

The Blocklong Building in downtown St. Louis, which has 285,000 square feet of rent, is one of at least 15 newspaper sites nationwide that has changed technology and advertising since 2012 as a result of the print journalism business sold

Like the Post-Dispatch Headquarters – a bustling center of civic power that caverns proudly delivering underground bolts and ink barrels through railroad links to nearby Union Station – many former newspaper sites have been re-purposed to appeal to many 21st Century appeals. Being tech companies, mothers of urban homes However, and even beer connector

At first though, there is the issue of scrapping the past.

“These buildings are not built as buildings – they are factories,” said Jim McKelvey, president of Starwood Group, who acquired the post-dispatch site in 2018.

Mr McKelvie said his company plans to spend about $ 60 million to tear down and reconfigure the wall, capturing a 100-foot-long printing press that once weighed 600 tons when fully loaded. This overhaul has been created to create a modern office space for Square, the mobile-payment company founded in 2010 by Mr McElweere, with Square CEO and Twitter co-founder Jack Dorsey.

Mr. McKelvey, a local resident of the city, says hundreds of Square employees already in St. Louis will occupy most of the space. Work is expected to be over in a year.

In Boston, The Globe has not yet listed any tenants for the site that the Globe vacated in 2017, nearly six decades later. The developer of the project, Nordblum in Burlington, Mass., Is expected to reopen this summer as an office park for technology and life sciences companies – as well as a potential home to craft crafts.

Nordblum acquired the site for more than 16 acres, including a private equity investor, for $ 81 million. The demolition began about a year before the restoration began, said Nordblum executive vice president Ogden Hannwell.

“Taking in all of these buildings is not for the faint of heart,” said Mr Honnwell. “The challenges are probably more significant than the next industrial surplus building.”

Complexities include random ceiling drop, curved concrete walls and flooring floor level. “How do you deal with this 18-inch floor rise when we’re trying to level a level?”

Then there is the investigation that could draw on the renovation of often well-known buildings with protected historic status.

The Onany Group, based in Vancouver, British Columbia, is rebuilding the former headquarters of The Seattle Times, a combination of art deco, box-arts and neo-classical design The Site is expected to become one of the million square feet at the end of the 2020-square-foot project. , 12 apartments and a grocery store. Ony bought the site in 2013 for $ 29 million two years after the newspaper was removed.

“As attractive as infill development sites are, sites like The Seattle Times, which come with landmark or heritage architectural buildings as well as historic historical uses, always have additional city processes to investigate and manage, and the process is more challenging and comes with inherent risks.” Duncan Olodorczak, Oni’s Chief of Staff, emailed Said.

Onani tackles the former Los Angeles Times Hub, an art deco building near City Hall that opened in 1; Plans include a grocery store, office and 1,127 apartments.

Despite the challenges, newspaper headquarters present an interesting opportunity for developers. Part of the temptation of fascination in the days of the pre-Internet, when it helped newspapers be closer to power plants like city halls, police headquarters and financial districts. This often means being downtown.

“Each developer says location, location, location. John Harris is behind the renovation of the Charlotte Observer’s five-acre former home, said John Harris, whose firm is behind Lincoln Harris. In the suburbs of North Carolina.

Lincoln Harris and Goldman Sachs earned the spot in 2016 for $ 37.5 million. A four-part project is underway, a 1,700-square-foot tower that was completed in July and occupied mostly by Bank of America. The partners were able to capitalize on state and federal brownfield programs, whose tax breaks and liability waivers encouraged developers to clean and heal malicious sites. Big pollutants on the observer site? Ink and other run-offs from print.

These locations included a large amount of space for the dock, storage rooms, executive offices, and loads of newsrooms for employees, which numbered several hundred people. It’s over now.

Newsroom jobs in the United States have dropped by 20 percent from 25 to 20, with the loss of newspapers significantly reduced, the Pew Research Center said. As a result, the need for space has decreased, often substantially. Holding headquarters from an earlier age – and paying property taxes as well as other expenses – publishers have loaded up their hulling buildings and often regrouped on a smaller scale.

“If the business can no longer support top dollar rents and taxes associated with high-dollar real estate, it makes sense to take profits associated with building sales, or move away from suburban rents and find something cheaper,” real estate. Says Andrew Rybczynski, senior consultant at Data Firm Coaster.

Josh Jeffers, president and CEO of Jay Jeffers & Company, bought a handful of buildings from The Milwaukee Journal Sentinel at the end of the 20th. He said that the magazine occupied about 1.5 square feet of buildings. But the paper has probably become one-tenth of that space, and he plans to move about a mile and a half ago this summer.

Mr Jeffers said his firm plans to accommodate students in Milwaukee Area Technical College in addition to renovating the apartment.

This year, the first residents are expected to relocate to 162 luxury condos carved from the former. Headquartered in The Chicago Tribune. Golub & Company and two developers, CIM Group, bought the building and an adjacent site in 2016 for $ 20 million.

The former headquarters of The Miami Herald, located in Biscayne Bay, Florida, is now planning plans for the resort’s World Miami Waterfront site, a subsidiary of the Malaysian Genting Group, which hosts more than 5 acres, including casinos, to host new land owners. -Resorts and Marina include

Not all newspaper overhauls are so viable. The site, which housed both the Detroit Free Press and Detroit News, was acquired by billionaire Dan Gilbert in 2016 by an investment vehicle and now has offices for Quicken Loans.

For developers who turn these old newsrooms into luxury condos and modern offices, there is another consideration beyond the prime location and capacious spaces. Their history gives developers the opportunity to capitalize on the past.

“The history of sites like The Seattle Times, while having a careful plan and a thoughtful process to work alongside cities and communities, allows the result to be something that simply lacks a history of visual history that can never be presented,” Mr Worldrzak Onir said.

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