DALLAS--(BUSINESS WIRE)--The Dallas Morning News today announced it has signed a letter of intent to move its headquarters to The Statler Library, formerly known as the Old Dallas Central Library, at the corner of Commerce and Harwood Streets in downtown Dallas. After 67 years at its home on Young Street, the Morning News is taking the next step in its transformation to a digitally-focused media company. The move is planned for mid-2017.
“Our Young Street building is engraved with ‘The Rock of Truth,’ which has guided the intentions of all employees who have walked through these doors since 1949,” said James M. Moroney III, publisher and executive editor of The Dallas Morning News. “While we all share sentimental memories during the past six decades at our home on Young Street, we know the time is right to move into a more accommodating space for a more comprehensive digital newsroom. We have challenged our design team to reimagine and create our ‘Rock of Truth’ at our new headquarters at The Statler Library.”
Morning News editor Mike Wilson will assemble a team of employees who will take the lead on creating the 21st century newsroom and collaborate with designers from Gensler, a firm that has extensive experience working with media companies, including notable projects for The Washington Post, Boston Globe, The New York Times and Houston Chronicle.
The Statler Library provides a more flexible space to build out a fully-equipped digital newsroom. Initial ideas for the new space include open floorplans with media rooms, areas for employee collaboration and a rooftop patio. This new location will also allow for additional expansion, as needed.
The move will increase efficiencies and lower facility-related operating expenses by reducing the Morning News’ footprint from 325,000 square feet on an eight-acre campus to approximately 100,000 square feet.
“After considerable due diligence, we determined a move was more cost effective for the drastic improvements needed to contemporize our current building on Young Street,” added Moroney.
All employees at 508 Young Street will make the move, while other A. H. Belo properties will not be affected.
Financial terms of the move are not being disclosed and future plans for the Young Street building have not been determined.
“Our focus right now is on our move, and we will not begin to consider options relating to our current building until we have an executed lease on our new space,” said Katy Murray, chief financial officer of A. H. Belo.
The Dallas Morning News has engaged CBRE and Jackson Walker to assist with this real estate deal.