CORVALLIS, Ore. (AP) - The property housing a Corvallis newspaper plant has been sold to a group of local investors who plan to tear down the building and replace it with a new housing development.
The Gazette-Times publisher Rick Parrish said the $1.8 million transaction closed on Friday. Lee Enterprises, the newspaper’s Iowa-based parent company, put the property up for sale early last year.
The Gazette-Times reports (https://is.gd/AHAqst ) the newspaper plans to relocate to smaller quarters elsewhere in Corvallis to save money on operating costs. The paper has already consolidated its printing operation and some other functions with its sister paper in Albany. The newspaper’s staff has dwindled to about 25 employees.
Three neighbors who sought to block the redevelopment have since withdrawn their legal appeal.
___
Information from: Gazette-Times, https://www.gtconnect.com
Please read our comment policy before commenting.