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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 nea...

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 ap...

08:10 PM EST Share An Augustine Development Group LLC subsidiary plans 135 apartment units, a grocery store and restaurant at the 19-story Downtown tower. The Jacksonville City Council approved a $3 million historic preservation grant Jan. 26 for Augustine Development Group LLC’s proposed $30 million renovation to Downtown’s Independent Life Building. The Council voted 18-0 to commit money from the city’s Historic Preservation Trust Fund to help finance Augustine Development subsidiary PEP10 LLC’s plans for a 135-unit apartment development at the historic 19-story towe...

12:08 PM EST Share City lawmakers held a side policy debate on when to budget and allocate award money from the Historic Preservation Trust Fund. Four City Council committees voted 7-0 this week to advance a $3 million historic preservation grant for Augustine Development Group LLC’s proposed $30 million renovations to Downtown’s Independent Life Building for a final vote. The Jan. 20 support by the Finance and Rules committees advances Ordinance 2020-0707 to the Council. The legislation includes city-backed financing for Augustine Development subsidiary PEP10 LLC’s plan...

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 Directo...