Chip and Joanna Gaines are embarking on a new business venture in Waco, Texas.
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The Fixer Upper: Welcome Home stars announced the establishment of Magnolia Headquarters. The Gaines closed on a building for the headquarters space, which is was previously home to the Waco Tribune-Herald. The business has been located at 900 Franklin Avenue for about 70 years. The Gaines will renovate the new space into their new business space. Meanwhile, the Waco Tribune-Herald will downsize from the 100,000 square feet building to a 3,500 square feet space a few blocks down the road.
Michael Rodriguez, the Magnolia Chief Financial Officer, presented the official plan to the Tax Increment Financing Board. He also detailed the couple’s future business goals.
“Really, as an expression of their love for the City of Waco, and their desire to share their gifts of entrepreneurialism and creativity to the rest of the community,” Rodriguez explained in an official statement obtained by KWKT.
The headquarters will be a “home” for more than 200 of the couple’s employees. It will also provide office spaces, warehouse space, a test kitchen, and production studio facilities for the team. Currently, the couple is requesting over 2 million dollars to remodel and develop the building.
Take a tour of the building in the video below.