Newspapers were the internet of the 20th century. Most everyone looked to them for news, entertainment, and information. Wallace F. Stovall got in early, starting his Tampa Tribune in 1895 and growing his paper into one of the largest publications in Florida by the 1920s. The paper was typically printed in a building he owned. In 1924, he opened this twelve-story 72,200 Sq. Ft. office “skyscraper” Tribune Building at the corner of Twiggs and Tampa Streets with an adjacent four-story structure in front of the towers to house the Tribune operations. He built it after recently completing construction on the Tarr Furniture Building across Twiggs Street. After beginning construction on that structure, he tried to renege on Tarr and keep it for the Tribune. He later honored the original agreement and then built the Wallace Building.

In an odd move in 1925, Stovall gambled when he sold a $5,000 30-day option to Mrs. Lulette Gunby to sell the Tribune for $ 1.2 million, thinking she could never raise that much money in 30 days and he would be $5,000 richer. He was wrong. He offered the syndicate of buyers $200,000 to call the deal off, but they refused.

In 1926, Stovall, who still owned the building, renamed it the Wallace (his first name) Building. In a way, he was lucky. In 1927, as the Florida land boom was busting, the syndicate was running out of money and had to sell the paper for $900,000, and Stovall still had his asset. The building survived until 1975 when Founders Life Assurance bought it, tore down the old four-story structure in front, and did a $2-million re-build using the original rock foundation and steel structure. The old red brick was gone, and a new cream and blue exterior shined. In 1998, Huntington National Bank leased 19,000 sq. ft. in the building after a $2-million renovation. Now called 601 North Ashley, it is capped with a sign that reads GTE Financial on the north side.

In 2023, the TLR Group bought the structure, and on January 2, 2024, they submitted a demolition application to the city. They want to replace it with a 43-story tower with 480 apartments, office space, retail, and restaurants, all located across the street from Curtis Hixon Park.

© Chip Weiner 2024. All rights reserved.