Its time for the Laura Street Trio owner to bow out

[acme54321]

Jacksonville-based Avant Construction says it is working with potential Laura Street Trio buyer

The deal includes the three historic Downtown structures and acquisition of the renovated Barnett National Bank Building.

https://www.jaxdailyrecord.com/news/2025/aug/12/jacksonville-based-avant-construction-says-it-is-working-with-potential-laura-street-trio-buyer/

[Jankelope]

Good to know he's not a bad person. I just feel like the cost of that sitting like that ugly and abandoned has been so bad for our downtown. Imagine Laura Street Trio already completed and beautiful when the Riverfront Plaza opens, with the new pizza/taphouse too.

[Tacachale]

Good to know he's not a bad person. I just feel like the cost of that sitting like that ugly and abandoned has been so bad for our downtown. Imagine Laura Street Trio already completed and beautiful when the Riverfront Plaza opens, with the new pizza/taphouse too.

The costs have been incredible, and he's just not able to close a deal despite the extremely generous incentives the city has approved. There's a reason we're no longer working with him, and it's not for lack of trying.

[Zac T]

Jacksonville-based Avant Construction says it is working with potential Laura Street Trio buyer

The deal includes the three historic Downtown structures and acquisition of the renovated Barnett National Bank Building.

https://www.jaxdailyrecord.com/news/2025/aug/12/jacksonville-based-avant-construction-says-it-is-working-with-potential-laura-street-trio-buyer/

Interested to see if they (the buyer) can pull it off. If it is who I think it is then I don't see any historic renovations in their portfolio. Avant has plenty of experience though so that gives me confidence. I am glad to see they are finally adding an amenities floor to The Barnett, that should help with their occupancy

[Joey Mackey]

Cottrill said Avant will help determine whether all three buildings can be saved. The work involves a cost, structural and historical analysis that will be conducted partly through use of artificial intelligence-powered 3D imaging technology.

"We're committed to keeping what can be kept," he said. "We're not looking for an easy way out."

Sounds like they are going to try and keep all three, but acknowledging the possibility that it might not be possible to save all three. 

[fsu813]

Cottrill said Avant will help determine whether all three buildings can be saved. The work involves a cost, structural and historical analysis that will be conducted partly through use of artificial intelligence-powered 3D imaging technology.

"We're committed to keeping what can be kept," he said. "We're not looking for an easy way out."

Sounds like they are going to try and keep all three, but acknowledging the possibility that it might not be possible to save all three. 

If there's an imminent risk of structural failure, MCCD has the ability to demolish a structure quickly and safely, bypassing the typical protections. I haven't heard that to be a concern from anyone.

Beyond imminent structural failure, what criteria would you use to determine if a building is/isn't possible to renovate?

Just curious.

[Joey Mackey]

^I have no clue. It sounds like Avant - if this sale goes forward - will make that determination.

[Jax_Developer]

Cottrill said Avant will help determine whether all three buildings can be saved. The work involves a cost, structural and historical analysis that will be conducted partly through use of artificial intelligence-powered 3D imaging technology.

"We're committed to keeping what can be kept," he said. "We're not looking for an easy way out."

Sounds like they are going to try and keep all three, but acknowledging the possibility that it might not be possible to save all three. 

If there's an imminent risk of structural failure, MCCD has the ability to demolish a structure quickly and safely, bypassing the typical protections. I haven't heard that to be a concern from anyone.

Beyond imminent structural failure, what criteria would you use to determine if a building is/isn't possible to renovate?

Just curious.

- Floor Plates
- Floor/Ceiling Heights
- Window Placement & Size
- Elevator Shafts
- Hazardous Materials (govt $$ usually available to handle this one)

Pretty much everything else comes back to these key items.

[fsu813]

Cottrill said Avant will help determine whether all three buildings can be saved. The work involves a cost, structural and historical analysis that will be conducted partly through use of artificial intelligence-powered 3D imaging technology.

"We're committed to keeping what can be kept," he said. "We're not looking for an easy way out."

Sounds like they are going to try and keep all three, but acknowledging the possibility that it might not be possible to save all three. 

If there's an imminent risk of structural failure, MCCD has the ability to demolish a structure quickly and safely, bypassing the typical protections. I haven't heard that to be a concern from anyone.

Beyond imminent structural failure, what criteria would you use to determine if a building is/isn't possible to renovate?

Just curious.

- Floor Plates
- Floor/Ceiling Heights
- Window Placement & Size
- Elevator Shafts
- Hazardous Materials (govt $$ usually available to handle this one)

Pretty much everything else comes back to these key items.

Money and/or creativity can address those issues. In fact, money generally solves all renovation challenges. I believe what your signaling is that ROI is important, and those items listed impact the ROI. For the Laura Street Trio, there's gigantic leeway in ROI considering their civic prominence and historical value.

[Jax_Developer]

Yes & no. There are buildings in Manhattan, completely empty, simply because of the floor plates. No amount of money will ever make 'those' types of buildings feasible. They will be demo'd before restored.

The ROI can increase the number of buildings that can be repurposed, but the fact remains that there are factors that will prevent restoration in any market.

[jaxlongtimer]

Can floor plates be expanded by building an addition to the existing building?  A clever architect could make it appear as 2 buildings when it is really one.  If not room at ground level, it would be great to see a building in Jax built over a street.  I have seen this in other cities and in in Minnesota, I even saw one built over a working railroad line.

[Jax_Developer]

Can floor plates be expanded by building an addition to the existing building?  A clever architect could make it appears as 2 buildings when it is really one.  If not room at ground level, it would be great to see a building in Jax built over a street.  I have seen this in other cities and in in Minnesota, I even saw one built over a working railroad line.

As it relates to the Trio, I actually think it doesn't have any of the items listed other than maybe elevator shafts (& ofc the 'structural issues' mentioned). The buildings are narrow, seemingly have enough height for every floor, and they have large windows. I do believe the purpose of the addition in Atkins plans had some purpose due to the projected occupancy of the hotel. It looks like the new addition was intended to house elevator shafts. It's likely the Bisbee building had one or none... either way it wouldn't meet fire code without the additional lifts. They had the same plan with the apartments too.

To answer your question Jax, yes. They can also be lessened.. there was a building in NYC that literally cut breezeways out the middle of it because the floor plates were massive. Now there are internal breezways with windows for more light. Not sure I would live there, but a neat idea nonetheless.

[Steve]

BIG Laura Trio News:

https://www.bizjournals.com/jacksonville/news/2025/12/04/becovic-management-the-trio-barnett-sale.html?utm_source=st&utm_medium=en&utm_campaign=BN&utm_content=JA&ana=e_JA_BN&j=42878629&senddate=2025-12-04

Unless this falls through, Atkins is out on 12/9.

[thelakelander]

I can't see the article at the moment. Have the plans changed? Will the new owner need more incentives than what has already been offered?

[Steve]

After decades of stalled plans, false starts and fading hope, the Laura Street Trio is finally getting a new owner with both the capital and the appetite to take it on.

Becovic Management Group is buying the Trio and the Barnett Bank building, a rare four-building deal that could reset the trajectory of downtown's most-watched block.

The sale closes Dec. 9 and will give the Jacksonville-based developer control of a stabilized residential tower and three of the city's most fragile historic structures. Becovic plans to move quickly.

The company will overhaul the Barnett, launch an immediate cleanup and activation of the Old Florida National Bank Building on Forsyth Street — also known as the Marble Bank — and push forward a phased redevelopment that will bring housing, a hotel and a new restaurant to the core.

The deal caps months of tense negotiations between the previous ownership groups, SouthEast Development and Las Vegas-based Molasky Group, and positions Becovic as a central player in downtown's next chapter at a moment when momentum has never been stronger.