Magnolia’s Chip and Joanna Take Over More of Waco with New Acquisition
The popular renovation duo behind the Magnolia brand have set their sites on a historic Waco building where local news was made for over 70 years.
According to a report from the Waco Tribune-Herald, Chip and Joanna Gaines have acquired the Waco Tribune-Herald building located at 900 Franklin Avenue.
The couple's plans include a $13.6 million renovation on the building. Being built inside will be a production studio for programming on the new Magnolia Network, a test kitchen, offices, meeting rooms, and warehouse space. On Thursday, Waco’s Downtown Tax Increment Financing Zone Board voted to deliver $2.6 million to assist Magnolia in the renovation.
As a local, the running joke was that Baylor was buying the city and that Waco would end up being entirely run by Baylor one day. Well, these days, it seems like there is no competition. Magnolia has taken over the city, and claimed it as their own.
From a small shop on Bosque to basically owning the majority of downtown, the Gainses have essentially bought the City of Waco.
Don't believe me? Check out this list of Magnolia operated business locations in Waco:
- Magnolia Market
- Magnolia Table formerly the Elite Cafe
- Magnolia Realty
- Magnolia Press
- Silos Baking Co.
- Magnolia's Little Shop on Bosque
- Magnolia Home
- Magnolia Distribution
- Magnolia Hotel at 701 Washington formerly the Grand Karem Shrine building
- Magnolia Headquarters, formerly the Waco Tribune- Herald
Oh, and then there's the Cottonland Castle at 3300 Austin Ave. So, as I stated before, Magnolia runs Waco.
Personally, I'm sad. There's so much history at the Waco Tribune-Herald building. I've toured it several times, and as a writer found inspiration walking along and looking at what used to be.
Yes there will be growth, yes there will be restoration, yes there will be tourist dollars and money, but there will also be pain, sadness, and outright gentrification. Unless you've been pushed out of your home by affluent expansion, then it's hard to see the issue.
13 Celebrities with Roots in Central Texas