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.
A Downtown Investment Authority Committee voted Jan. 14 to add $500,000 to the city’s incentive deal with developer Related Group for site remediation.
The Southern Group lobbyist; Downtown Development Review Board member
The health of Jacksonville’s urban economy will partially depend on the coronavirus-related economic stimulus approved in the U.S. Congress.
One bright spot in Downtown’s real estate market during the COVID-19 pandemic has been multifamily housing. Residential is an area of Jacksonville’s Downtown market expected to grow in 2021.
On the residential side, people are still flocking to Downtown. The Residences at Barnett has a waiting list, for example.
There seems to be strong demand for Downtown. The Southern Group represents the Florida Theatre. Federal officials need to target workers like artists, stage workers and theater personnel whose livelihoods depend on the in-person experience that was shut down through much of 2020.