(Dallas Business Journal) -- The Dallas Morning News said Thursday afternoon they have decided to move its news operations to The Statler Library, which sits adjacent to the historic Statler hotel, along Commerce Street in downtown Dallas.
Last week, the Dallas Business Journal reported the Dallas publication was considering The Statler Library as a potential new location. Real estate sources say developer Mehrdad Moayedi would need to build a parking garage in order to attract a large office tenant, such as the DMN.
When I asked DMN's Chairman, President and CEO Jim Moroney about the paper's real estate search last week, he said he had not made a real estate decision yet.
"We have made no decision as to whether we will move or stay where we are," Moroney said in an email to the DBJ on last Tuesday. "We continue to look at several possibilities. That's all I will say and it is the truth."
The Statler Library was the dark horse in a number of downtown Dallas buildings being considered for the media company's new home. The George Dahl-designed library is still under construction and is expected to be completed in the near future with 90,027 square feet of useable office space.
Moayedi, through Farmers Branch-based Centurion American Development Group, could benefit from a potential land swap with the city of Dallas for a parcel of land that could help him build a parking garage to support the office building. The Business Journal reported on the details of the would-be swap last week.
That land swap could make way for a prime opportunity for Centurion American to nab a company, such as the Morning News, Phillip Kingston, a Dallas city councilman that oversees District 14, told the DBJ.
"This is the perfect place for the Morning News and I'm a huge advocate of that as a location," Kingston said. "It would have such great synergy in the Main Street Garden area in the beautiful George Dahl-designed building."
Kingston, who said Centurion American will have to solve the parking issue before the Morning News can move forward, said he's got "pretty good confidence" this deal will be completed between the developer and the city.
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