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The Globe and Mail building on Front Street West in Toronto.The Globe and Mail

The Globe and Mail's future home will be a low-rise building faced with glass at the corner of one of downtown Toronto's busiest intersections, publisher Phillip Crawley announced Monday in a meeting with staff.

The new development will be built on a spot currently occupied by a car dealership at Front Street and Spadina Avenue, next door to the paper's current address.

While The Globe will be the primary tenant for the building, which will likely contain six or seven storeys, there will be room for other tenants as well as a possible space for public events.

The 167-year-old paper has occupied seven buildings over the years. Its most recent move happened in 1974, when its headquarters, on King Street in the financial district, was demolished to make way for the Toronto Stock Exchange.

The Globe brought the old building's doors with it and had them re-installed in its current location. The company hopes to move the doors again to the new building.

The current facility, constructed 48 years ago, was previously owned by the Toronto Telegram, which folded in 1971. It will likely become the site of a high-rise building after The Globe moves out.

Since The Globe's arrival, the neighbourhood has transformed from a warehouse district into a trendy slice of the city replete with mid-rise condominium buildings and numerous adaptive-reuse projects that have transformed older buildings into office spaces, lofts and nightclubs.

Construction on the paper's new headquarters is expected to start in 2012.