Its time for the Laura Street Trio owner to bow out

[heights unknown]

All I can say about all of this is.......WOW. Hope they do something soon before these 3 buildings disintegrate into dust and powder; LOL, they are over a hundred years old.

[CityLife]

Hats off to Weinstein and the Mayors Office for putting together an agreement that gives Live Oak a path to getting the liens reduced/removed, but also protects the City if they can't pull it off. That's good government.

[jaxlongtimer]

Interesting numbers re: City contribution to a Downtown historic preservation project - at 44% of project costs.  This seems to be in the ballpark of the % of assistance Adkins was requesting so I am wondering if that makes at least the subsidy ratio palatable. 

I gather this is more about the structure of the Trio deal (i.e. payouts before completion) and the developer's character than about the dollars.  Or, are all an issue?

I think most all here support historic preservation so hoping new players find a way to get this done.

DIA board endorses $2.56 million incentive package for Juliette Balcony

...The board voted 8-0 to recommend approval of a $2.56 million incentive package to redevelop the vacant three-story building at 225 N. Laura St. With the vote, the incentives advance to the Jacksonville City Council.

Alan and Ellen Cottrill, co-founders of Avant Construction Group, a Jacksonville-based company with years of experience in historic renovation and adaptive reuse projects, have taken an ownership stake in the building along with Rafael and Carmen Godwin, who bought the building in 2022.

Plans call for eight residential units on the upper floors and a restaurant on the ground floor. The residential units will be offered as short-term rentals through platforms such as Airbnb.

At a recent DIA committee meeting, Alan Cottrill said the owners hoped to select a restaurant tenant within six to eight months. 

Total development cost is listed at $5.8 million in DIA documents....

https://www.jaxdailyrecord.com/news/2024/dec/18/dia-board-endorses-256-million-incentive-package-for-juliette-balcony/

[Ken_FSU]

Interesting numbers re: City contribution to a Downtown historic preservation project - at 44% of project costs.  This seems to be in the ballpark of the % of assistance Adkins was requesting so I am wondering if that makes at least the subsidy ratio palatable.

This is something I broke down last year here (https://www.metrojacksonville.com/forum/index.php/topic,37780.0.html).

Key thing to keep in mind, all other factors aside, is that the Laura Street Trio project, as proposed by Southeast, wasn't a $180 million historic rehab. Instead, it was a $62.5 million rehab, wrapped in a $113 million new construction project.



So, while it is accurate that the percentages of the city's contribution for the historic rehab are roughly the same (45% for the Trio vs. 44% for the Juliette Balcony), Southeast was ALSO asking the city to toss in over 30% (an extra $30 million BEFORE they increased their subsidy demands in 2024) for non-historic new construction.



In essence, Jacksonville's public contribution to the project ($63 million) would have been more than the actual stated cost to rehab the historic structures.

[Joey Mackey]

https://www.firstcoastnews.com/article/news/local/jacksonville-files-default-motion-seeking-public-auction-of-laura-street-trio-in-downtown/77-947ead13-4e1e-4a2d-aed9-3160664f2941

City moving forward, again, with foreclosing procedures. Based on the below, it sounds like SouthEast Development Group was negotiating in bad faith, again, regarding its sale to Live Oak and that deal fell through. The City needs to get this property out of SouthEast's ownership and over to Live Oak however it can.

City spokesman Phillip Perry said city attorneys resumed court filings after the talks between SouthEast Developmet Group and Live Oak Contracting weren't progressing.

"We served Laura Street Trío and Red Oak Capital earlier this year once it became clear those negotiations were stalled," he said. "The default judgement is the next step in the lawsuit process, and it is being pursued in coordination with Live Oak Contracting."

[urban_]

I wonder how long this will take to go through. It's such a shame how long it's taken already. When they finally open that corner up, I'll bring the fireworks and champagne!

[heights unknown]

I wonder how long this will take to go through. It's such a shame how long it's taken already. When they finally open that corner up, I'll bring the fireworks and champagne!

I wonder how long this will take to go through. It's such a shame how long it's taken already. When they finally open that corner up, I'll bring the fireworks and champagne!

I'll probably be right there with you Bubba (LOL).

[jaxlongtimer]

I wonder how long this will take to go through. It's such a shame how long it's taken already. When they finally open that corner up, I'll bring the fireworks and champagne!

Will likely depend on whether Southeast contests the case, maybe loses, files appeals, etc.  I would think they will put up a fight given their behavior to date to hold on to the property.  Time will tell.  An out of court settlement via mediation would likely be the quickest way other than a motion for summary judgement being granted.  I am no lawyer so all this is based on observations over the years  .

[Joey Mackey]

Fingers crossed this is the beginning of the end of Steve Atkins' ownership of the Trio.

https://www.jaxdailyrecord.com/news/2025/aug/05/council-president-kevin-carrico-new-buyer-interested-in-laura-street-trio/

[Jankelope]

This is the most embarrassing and disappointing story in Downtown Development of the entire last decade. Just such a waste of time, effort, money, etc.

These beautiful buildings could have opened a year ago and be ready to shine with Gateway up the street and the new riverfront parks walkable. We could have had small grocery, hotel, more downtown residences, and synergy with the VyStar garage and it's new tenants. What a massive fail.

[Bativac]

"Appearing on the WJCT-News talk show "First Coast Connect," [City Council president Kevin] Carrico said he heard that Trio owner SouthEast Development Group was again trying to sell the buildings at Laura and Forsyth streets after several failed attempts to renovate them.

In text-message comments after the meeting, Carrico said the would-be buyer is from outside of Jacksonville and may have negotiated a purchase with SouthEast.

Asked about the new buyer, Steve Atkins, principal of SouthEast, said in a text message, "it's a bit early for me to offer any comments on this matter."

Boy this sounds awfully "iffy." Sad to hear Live Oak is definitively out of the picture. Hope to see these buildings cleaned up one of these days.

[Tacachale]

The issue is and always has been Atkins. There will be more opportunities once he's out of the picture, and that's in progress.

[acme54321]

The issue is and always has been Atkins. There will be more opportunities once he's out of the picture, and that's in progress.

Not soon enough

[Tacachale]

The issue is and always has been Atkins. There will be more opportunities once he's out of the picture, and that's in progress.

Not soon enough

Very true, he's had a charmed life with this thing, which I don't understand.

[Jankelope]

What is the deal with Atkins? Like is he a bad person? Greedy developer? Too ambitious? This is the same guy who made that rendering of billions of dollars of downtown master plan. The guy can't even finance renovating 3 old buildings. Clown