Chip and Joanna Gaines are taking over another building in downtown Waco, this time to house a new headquarters for their expanding Magnolia lifestyle brand.
Magnolia told city officials last week that it will move into the Waco Tribune-Herald building, just a few blocks from the company's Magnolia at the Silos shopping district, the city's biggest tourist attraction.
Magnolia said it plans to spend $13.6 million to renovate the three-story, 110,000-square-foot building that housed the newspaper for 70 years.
The Tribune-Herald's staff will move later this month into another building downtown, according to an article published last week. The newspaper building is owned by Brazos River Capital, a real estate investment group controlled by Waco residents Clifton and Gordon Robinson, according to a story in the Tribune-Herald.
Magnolia will receive $2.6 million in economic development funds for the renovation, which will include offices, meeting rooms, a test kitchen, a production studio for Magnolia Network programming, warehouse space and exterior improvements.
The Magnolia brand includes operations in retail, real estate, hospitality, entertainment and publishing.
The company said it will consolidate about 200 staff members from various locations to the building in summer 2022.
In its recommendation to the board, Waco's Tax Increment Financing staff said Magnolia's corporate staff move will be "a bellwether moment in the resurgence of downtown Waco," which is something the celebrity couple has been working on the past few years.