Stockman Bank in Montana is set to acquire the Downtown Gazette Building in Billings, with plans to develop the surrounding area further.
Kevin Guntenor, the bank’s chief information officer, mentioned that while there isn’t a concrete plan yet for the building, it could likely house the bank’s insurance operations. The building is conveniently situated across from Stockman’s Downtown Branch.
“Do you think it’s an ideal spot for an insurance agent’s headquarters? There’s good foot traffic, it’s a nice area, and it’s just a quick walk from one of our branches,” he said.
According to a report from The Gazette, owned by Lee Enterprises out of Iowa, the publication will shift its printing operations to Bozeman, resulting in the loss of 10 jobs, although reporting and advertising staff will continue to work in Billings.
For decades, newspapers have operated out of this building, and the bank intends to maintain the historical significance of the North Broadway site.
“We’re definitely aiming to make the space functional,” Guntenor added.
The transformation might also boost pedestrian activity, which could benefit various businesses downtown.
Peter O’Brien, the owner of a nearby Mediterranean restaurant called Spitz, expressed enthusiasm. “Having more neighbors is always beneficial for a restaurant, and we’re eager to see how the rest of that block develops,” he noted.
Meanwhile, employees of the Billings Gazette will be moving to another office in the city, and most will be working remotely for the time being.
The selling price remains undisclosed, and neither the bank nor the newspaper confirmed any official gazette details. Interestingly, the building was initially listed for sale in 2021 at a price of $7.865 million.
