Pioneer Press to Leave Downtown St. Paul
The St. Paul Pioneer Press just sold off their downtown headquarters. The 162,000 square foot, 1950s era property was sold to an apartment developer, the Stencil Group, based out of Sioux Falls. They wil move their operation to the River Park Plaza across the Mississippi River. The sum was undisclosed, though reports say the sale was not far off the asking price was $4.2 million.
The property will be refurbished into around 150 and 168 marketable apartments. The apartments will not be upscale or for only the wealthiest Twin City residents; the complex will be well-built, have nice interior designs and be moderately priced.
The newspaper industry has undergone many changes in recent years as the paper information industry continues to wane. In 2013, Pioneer Press closed down their St. Paul printing plant in favor of having their rival, the Star Tribune, print their papers. The Minneapolis plant now prints both papers.
St. Paul just lost an icon in their city's newspaper's headquarters.