SouthEast Development Group LLC’s plans to renovate the historic Laura Street Trio Downtown could receive $24.67 million in city-backed incentives under a proposed deal with the Downtown Investment Authority.
The pending agreement negotiated by DIA staff includes forgivable and deferred loans for SouthEast’s $70.48 million project.
The project will adapt the vacant historic structures into a Marriott Autograph Hotel with a restaurant, lounge and ground-floor retail, according to documents submitted for the DIA Strategic Implementation Committee’s March 15 meeting.
If approved, the nearly $25 million package would be the largest awarded from the DIA’s Downtown Preservation and Revitalization Program authorized by City Council in October.
Share The estimated $70.4 million project will redevelop the historic buildings into a hotel with restaurant and retail spaces.
Laura Street Trio developer SouthEast Development Group LLC submitted its historic renovation project to the Downtown Development Review Board for conceptual review.
The estimated $70.4 million plan to convert the three vacant urban core structures into a 146-room hotel with restaurant and retail spaces is scheduled at the board Feb. 11, according to an agenda and documents released Feb. 4.
A staff report recommends that the board grant conceptual approval for the renovation of the Florida Life, Bisbee and Marble Bank buildings, which comprise the Trio at 51 W. Forsyth St.
Laura Street Trio developer SouthEast Development Group LLC released its latest designs for a two-phase redevelopment of the Downtown property.
The renderings and site plan for the estimated $70.4 million first phase of the project likely will go before the Downtown Development Review Board for conceptual review in March, Southern Group lobbyist and SouthEast Development representative Matt Brockelman said Jan. 21.
The designs show the restored former Florida Life, Bisbee and Marble Bank buildings at 51 W. Forsyth St. Those historic structures comprise the Trio.
Southeast Managing Director Steve Atkins plans a 145-room Marriott hotel with a full-service restaurant and bar, a 4,000-square-foot boutique grocery store and an additional 4,000 square feet of retail space at the Trio.
05:10 AM EST Share Developer Steve Atkins plans to start work in 2021 on the Downtown project that could become part of the Marriott Autograph brand.
SouthEast Development Group LLC Managing Director Steve Atkins said Dec. 14 Marriott is reviewing the proposed Laura Street Trio adaptive reuse project Downtown as a candidate for its Autograph Collection of hotels.
SouthEast Development Group LLC Managing Director Steve Atkins intends to transform the Laura Street Trio into a mixed-use development with a hotel and grocery.
The possibility of raising the Trio hotel’s profile from the previously announced Courtyard by Marriott to Autograph comes as Atkins and the Downtown Investment Authority work toward a new city-backed development deal to renovate the three historic vacant structures at 51 W. Forsyth St.