Its time for the Laura Street Trio owner to bow out

[Zac T]

This is arguably the biggest news for Downtown in years. That block is so critical in connecting all of the other investments taking place Downtown and making them work. If they do it right, the entire feel of Laura, Adams, and Forsyth Streets will be completely different.

Also, very happy that they're focusing on preserving the Trio first and doing new construction after. Hopefully they can open up the retail space on Adams Street in The Barnett and get a good tenant in there

[Jagsdrew]

It will be interesting to see if additional incentives are needed on top of what was approved for the project. We just saw this week that the stadium is $100mm over budget due to tariffs and they are trying to mitigate costs by purchasing materials well in advance.

Seems like council is trying to curb future incentives for projects so this would be the biggest hurdle to clear in the project (as always) but the height of this hurdle is now higher than it was when Aktins took over.

Let's hope and pray that they are coming in like Gateway with locked in capital on their side.

[Charles Hunter]

How much of the previously approved incentives have been paid to one or more of the prior owners? I don't recall if there was any up-front cash.
I assume that City Council will have to approve any incentive package, even if it is the same as what they already approved.

[BridgeTroll]

It's shockingly unreal that this is STILL A FUKING THING.  Yay I guess... Having moved away 4 years ago and still... just wow. Good luck!!

[Steve]

JDR Article: https://www.jaxdailyrecord.com/news/2025/dec/04/indiana-based-becovic-management-group-says-it-is-buying-laura-street-trio-barnett-building/

[Westside Guy]

Great news for the Trio, particularly just focusing on saving the buildings now and focusing on new construction later. but what kind of mismanagement led to 3 floors of the Barnett not being used when the building hit 100% capacity almost instantly? From the article:

"Roberts said the 18-story building was not fully renovated. Becovic plans to finish it off by completing a planned amenities center on the third floor and building-out two other floors.

"That building has no amenities. So the third floor will be an amenity center, which will start immediately. Then the sixth and seventh floor, which were initially planned to be additional commercial space, we're actually going to convert that into multifamily."

Roberts said the group was working with architects on a plan for the sixth and seventh floors but believed it would involve 18 to 20 unit."

[Tacachale]

Great news for the Trio, particularly just focusing on saving the buildings now and focusing on new construction later. but what kind of mismanagement led to 3 floors of the Barnett not being used when the building hit 100% capacity almost instantly? From the article:

"Roberts said the 18-story building was not fully renovated. Becovic plans to finish it off by completing a planned amenities center on the third floor and building-out two other floors.

"That building has no amenities. So the third floor will be an amenity center, which will start immediately. Then the sixth and seventh floor, which were initially planned to be additional commercial space, we're actually going to convert that into multifamily."

Roberts said the group was working with architects on a plan for the sixth and seventh floors but believed it would involve 18 to 20 unit."

Intentionally bad ownership.

[soepic]

Honestly as an actual 5 year resident of Barnett, I didn't mind the previous owner. New owners seemd to be out of their element, so I wouldn't be too hyped just yet. Seems like a lot of ideas that are needed (and a few that are very unneeded or wanted), but so far no clear plan of completion and a lack of confidence in the company to even just handle the management of the current building. Which is such a mess, alot of people like me are looking at other housing options. Which puts a big dent in their financial plan to do all these upgrades. So I can imagine the mess when they finally get to the Trio (If they actually do).

[heights unknown]

Honestly as an actual 5 year resident of Barnett, I didn't mind the previous owner. New owners seemd to be out of their element, so I wouldn't be too hyped just yet. Seems like a lot of ideas that are needed (and a few that are very unneeded or wanted), but so far no clear plan of completion and a lack of confidence in the company to even just handle the management of the current building. Which is such a mess, alot of people like me are looking at other housing options. Which puts a big dent in their financial plan to do all these upgrades. So I can imagine the mess when they finally get to the Trio (If they actually do).

Wow. Didn't know all of this trouble, mismanagement, and misfitness was going on with the Barnett. Makes you go Hmmm, and really question, based on what you've shared, on whether they are legit and/or up to it. Could be they are focusing most of the attention on the Trio and putting the managing of the Barnett "kind of" on the back burner. It would be ashamed if we got another faker relative to the Trio.

[soepic]

Based off the statement from the current Manager, his job is to complete the upgrade to The Barnett and then start on the Trio. Makes no sense to me that they don't have a person handling both. Seems like their goal is to try and make the money with us renters and new ones to fund the rehab of the Trio. But if that is the case and based off their current short track record of promises, it will be 2030 before they even look at the Trio or most likely sell that part to someone else. Plus looking at their Portfolio of properties are all modern and slightly generic and Barnett is their only historical property they have. So I really feel they are out of their element. But I was also skeptical that Gateway Jax would even break ground on any lot and they have several projects going vertical at once. So I hope for Downtown and as a proud Barnett Resident, that they do pull it off.

https://becovicmgmt.com/apartment-communities
https://becovicmgmt.com/commercial
https://becovicmgmt.com/development

[Joey Mackey]

Anyone have an update on the sale of the Trio? Property appraiser website still lists Atkins as the owner. Last I saw in the news was a tentative closing date on December 18, 2025. I wonder what is causing the holdup.

[Steve]

Anyone have an update on the sale of the Trio? Property appraiser website still lists Atkins as the owner. Last I saw in the news was a tentative closing date on December 18, 2025. I wonder what is causing the holdup.

I thought that was just the date for the Barnett, which has changed hands.

[Joey Mackey]

https://www.jaxdailyrecord.com/news/2025/dec/04/indiana-based-becovic-management-group-says-it-is-buying-laura-street-trio-barnett-building/

Becovic Management Group plans to close on the Barnett building Dec. 9 and has set a tentative closing date of Dec. 18 for the Trio, according to the group's director of acquisitions, Joshua Roberts.

[jaxlongtimer]

FYI, the property appraiser website can take 1 or 2+ months to update for transactions.  I don't understand why in this day of electronic recordings but that's the way it is.

I think the Daily Record must have a seat at the registrar's office in the Courthouse to pick up transactions the very day they are recorded .

[Ken_FSU]

FYI, the property appraiser website can take 1 or 2+ months to update for transactions.  I don't understand why in this day of electronic recordings but that's the way it is.

I think the Daily Record must have a seat at the registrar's office in the Courthouse to pick up transactions the very day they are recorded .

But if there's a demolition to be had, the paperwork can be processed in 6 hours