Pioneer Press Leaves Home
- Jun 17, 2015
By Ioana Neamt, Associate Editor
The Pioneer Press is bidding farewell to its home of 30 years. The newspaper reported that it sold its headquarters in downtown St. Paul to South Dakota-based Stencil Group at an undisclosed price. The developer plans to convert the office building at 345 Cedar St. into an apartment complex with more than 150 market-rate units.
Strategically located close to City Hall and the main downtown station of the Central Corridor Light Rail line, the eight-story office building was constructed in 1955 by Minnesota Mutual Life Insurance Co. The Pioneer Press bought the building back in 1983 and has operated there ever since.
The building features a skyway connecting it to downtown, parking and showers for bikers and runners, as well as flexible open-floor plans. According to the Minneapolis/St. Paul Business Journal, Stencil Group plans to start working on the building in January 2016, with opening scheduled before fall. This will be the developer’s first housing project in the Twin Cities.
The newspaper will relocate its headquarters to a nearby facility in downtown St. Paul, with more details to be revealed in coming days. Though the terms of the sale have not been disclosed, the building had been listed at $4.2 million.
Image courtesy of Colliers International