As first reported by Chek News, the Times Colonist Building has been purchased by Merchant House Capital.
Located at 2621 Douglas St, the Victoria landmark houses the city’s largest newspaper. However, the sale could make downsizing inevitable.
Merchant House Capital’s Website lists the “TC Evolution” as one of its current projects.
According to renderings on the website, the printing operations building will remain in place. But Chek reports that layoffs and outsourcing could still be on the horizon.
Merchant House Capital’s current project file includes plans to replace the building’s parking lots with two stories of townhomes, two stories of parking, and nine stories of residential units.