Development

Cost to demolish old Charlotte Observer building: Millions of dollars

The Charlotte Observer building at 600 South Tryon Street , Charlotte.
The Charlotte Observer building at 600 South Tryon Street , Charlotte. mhames@charlotteobserver.com

The Charlotte Observer’s former building has inched a step closer to demolition, with permits issued to tear down the structures at Stonewall and South Tryon streets.

As the Observer reported last month, the site’s new owners had requested permits to demolish the site. Mecklenburg County records show the permits were issued last week. The permits indicate the project will have a total cost of $4.2 million.

D.H. Griffin Wrecking Co. will demolish the building. The bulk of the cost – $3.5 million – will go to tearing down the Observer building itself, at 600 S. Tryon St. The remainder will go to tearing down the second portion of the Observer site, between Church and Mint Streets, adjacent to Bank of America Stadium.

A company affiliated with Charlotte development firm Lincoln Harris and New York-based investment bank Goldman Sachs bought the former Observer site from the pension fund of Sacramento-based McClatchy, the Observer’s parent company, for $34.1 million. That transaction closed last month.

The former Observer facilities total 360,000 square feet and include a five-story office building, tunnels connecting the former printing presses in the main building to newsprint storage under Church Street, and underground packing and warehouse facilities.

The Observer has relocated to new offices two blocks away, at Stonewall and South Caldwell streets, in the NASCAR Plaza office tower.

Lincoln Harris hasn’t said what it intends to build on the 9.4-acre site, but preliminary plans filed with the city indicate the site will be a major mixed-use development.

Ely Portillo: 704-358-5041, @ESPortillo

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