Big changes look to be coming to Douglas now that the Times Colonist building has been sold to the Vancouver-based developer, Merchant House Capital.
Times Colonist Editor - in - Chief, Dave Obee says the building is 45 years old and in need of freshening up. The newspaper staff will stay in the building for the time being.
Merchant House Capital has bought the building from Glacier Media Group, the Times Colonist's parent company.
Early plans indicate there could be a residential tower with nine floors of living units, two levels of parking and two-storey townhomes facing the street.
Other newspapers across the country have done similar deals to cut costs and raise money.
Many of the newspaper buildings are too expensive to maintain and too large for current workforces.