NEW LONDON, Conn. (WTNH) — A New London staple that has been in the city for more than a century has been sold to a Maine developer for $1.8 million, according to state officials.

The building houses The Day newspaper, formerly the New London Day paper.

The developer, High Tide Capital, has other projects in New London and is known for working with historic buildings. 

The state has recently made efforts to make upgrades in New London, including an investment in the Eugene O’Neill Drive building.

Officials said $1.2 million would go towards upgrading The Day building and assist the developer in turning the building into a mixed-use residential and retail complex.

The developer also plans to put in a museum space to showcase the history of The Day newspaper. The state support may have been a helpful incentive for the new buyer.

“Really helps enable all that work to happen,” said Dash Davidson, principal with High Tide Capital. “It’s gonna be probably a $15 million to $20 million project, so this support is really critical in kind of getting us to where we need to be to turn around the buildings.”

Right next to the main office building is an art park, which will be expanded into a larger green space area by removing the garage bay building behind it.

“I’m a New London kid, and it’s exciting to see anybody invest in my hometown,” said Felix Reyes, director of economic development and planning for New London. “So, these projects they’re needed.”

There’s also another building which is where the printing used to take place. That poses one of the biggest challenges for this complex project but a welcome one because Davidson is excited to figure out what they will do with that big space.