Former Oregonian press site sold for $20 million

Two Seattle firms have paid $20 million for The Oregonian’s longtime printing site.

Urban Renaissance Group and Security Properties plan to build an eight- and a 23-story apartment building on the one-and-a-half-block site near Southwest Yamhill Street and 17th Avenue.

The project also will include a three-story, 41,000-square-foot building with ground floor commercial space and two floors of creative office. 

The buyers say they expect to demolish the printing press buildings before the end of the year and start construction in 2020. Urban Renaissance Group also bought The Oregonian’s longtime Southwest Broadway headquarters in 2014 and is renovating that building for office tenants.

The seller is Oregonian Publishing Co. That company is a subsidiary of Advance Publications, the parent company of The Oregonian/OregonLive. The newspaper is now printed by Signature Graphics, a Portland printing company.

— Elliot Njus

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