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The GW Hatchet, George Washington University’s independent student newspaper, announced today it will scale back from a twice-a-week publication to a weekly.

In a blog post,  editor Cory Weinberg cited declining advertising revenue and increased online readership for reasons behind the decision. The paper will now come out every Monday. “This move will enable the paper’s faster growth as a business and allow us to produce more innovative journalism,” Weinberg wrote.

But not all is gloomy for the paper—-the second oldest in the District after the Post—- in these dark days of print.

The paper, which is currently in its 20th year of independence from the university it covers,  has plans to move into a  pricey off-campus rowhouse soon, cutting some of its last ties to the University.

Home for the Hatchet, a company that has been raising funds on behalf of the University for the new space, purchased the property on the 2100 block of F Street NW back in February for $950,000.

Ken Chaletzky, a GWU and Hatchet alum who runs the company, says Home for the Hatchet has raised $400,000 so far and plans to continue fundraising and finance the remaining costs.  Some of the naming opportunities still left for people wishing to donate: The entire building for $750,000 and the staff lounge for $50,000.

The Hatchet currently leases an on-campus building from the University and is hoping to move out sometime in 2014.  The new building requires extensive renovations and permits are still pending.