BOULDER - For the second time in a year, a deal to buy the Camera newspaper building at 1048 Pearl St. has collapsed.

This time, local developer Stephen Tebo dropped his pursuit of the 76,635-square-foot building, which he had gone under contract to buy in November. In June 2009, Denver-developer Randy Nichols also passed up on an earlier intention to purchase the building.
 
Camera owner MediaNews Group, and its former co-owner E.W. Scripps, put the building up for sale in November 2008. The property's value isn't so much in its building, but in its land - 1.37 acres in the heart of downtown Boulder.

But sources say that the developers have had a tough time justifying a purchase, in part due to the economy, but largely due to uncertainties in Boulder politics, which have hinted toward more restrictive building regulations and requirements.