First look at developer's plans after buying Herald-Leader building
The Lexington Herald-Leader's landmark building downtown will soon have a new owner who has big plans to redevelop the 35-year-old building.
Lexington-based CRM Development Company Inc. has signed a deal to buy the property at the corner of Midland Avenue and Main Street overlooking Thoroughbred Park.
The company, which employs 650 people, was started by Craig Turner and Wayne Wellman in 1997.
Turner told WKYT that his company's vision for the building is to modify and expand it while breathing new life into the east side of downtown.
The Herald-Leader's publisher put the building, which was built in 1982 and has an assessed value of $6.8 million, up for sale in 2016 after moving printing and packaging operations to Louisville.
At the time of the time of the decision to sell the building, the publisher said the Herald-Leader's staff would remain downtown, though the paper has yet to settle on a location.
Herald-Leader President and Publisher Rufus Friday said the paper is committed to remaining downtown, while finding a space "that better meets the needs of a 21st century media company."