All three buidlings in the Laura Street Trio were built in the early 20th century. | The Jaxson
Published on June 28, 2024 at 1:25 pm
The Downtown Investment Authority is formally backing out of negotiations with the developer of the historic Laura Street Trio in Downtown Jacksonville.
The DIA board on Friday approved ending negotiations, saying the proposed $89 million in incentives would put the city at risk and are not worth pursuing.
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That doesn’t mean the project is dead.
Steve Atkins, a principal with SouthEast Development Group, the Trio’s developer, says he believes both sides want to get the project completed, but they are not working together.
“At this point I don’t want to belabor the point. I just want to do what we need to do to get the project finished,” Atkins said.
The latest Trio proposal includes apartments, restaurants, bars, a hotel and retail space.
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DIA staff has recommended twice that the agency end negotiations with Atkins and SouthEast. In April, the DIA board recommended denying an agreement with Southeast but left open the possibility of further negotations.
Moving forward, Atkins wants to work directly with the Jacksonville City Council to help restore the historic buildings, which have been empty for decades.
A special Jacksonville City Council committee studying the development of Downtown has requested to take a look at the project.
