News Summary
A potential out-of-state buyer has shown interest in acquiring the historic Laura Street Trio in downtown Jacksonville, which has been abandoned for decades. The sale process is currently in the due diligence phase, assessing the buildings’ conditions and possibilities for restoration. While the sale includes the nearby Barnett Building, SouthEast Development Group, the current owner, faces legal issues with the city over maintenance disputes. The new buyer’s commitment to revitalizing the area offers hope for positive change in downtown Jacksonville.
Jacksonville, FL – A potential out-of-state buyer has emerged for the historic Laura Street Trio, a collection of abandoned buildings in downtown Jacksonville. This group, consisting of the Florida Life Insurance, Bisbee, and Marble Bank buildings, has remained vacant for decades and has significantly deteriorated, with some sections lacking windows and being exposed to the elements.
Jacksonville’s Avant Construction Group is facilitating the sale process, which is currently centered on a phase known as “due diligence.” This involves assessing the buildings’ conditions, constructability, and financial components. Alan Cottrill, the owner of Avant Construction, underscored the importance of understanding these elements before the transaction can move forward.
Additionally, the sale will include the Barnett Building, which has undergone renovations to house apartments, retail venues, and office spaces, though three floors remain undeveloped. The potential buyer, who has ties to Northeast Florida and owns a residence in Ponte Vedra Beach, brings experience in historic restoration projects and is already involved in ongoing developments in Florida, including the Jacksonville market.
A purchase and sale agreement has been established between the potential buyer and the current owner, SouthEast Development Group. Cottrill has noted that the deal could close within 90 days, pending the completion of the due diligence process. Avant Construction plans to conduct a thorough analysis using cutting-edge AI-powered 3-D imaging technology to evaluate whether the buildings can be salvaged and restored.
Cottrill expressed optimism that the new buyer will commit to revitalizing the Laura Street corridor, which could lead to significant positive changes for the downtown area.
In the backdrop of this prospective sale, SouthEast Development Group is currently embroiled in legal disputes with the city of Jacksonville over more than $800,000 in violation fees. The city contends that SouthEast has neglected the upkeep of the properties, resulting in instances of vandalism and graffiti, although SouthEast claims these issues were beyond their control. Compounding the situation, a previous buyer, Live Oak Contracting, withdrew from negotiations in March 2025, prompting the city to resume its lawsuit against SouthEast.
Should the city prevail in the lawsuit, there are intentions to put the properties up for public auction in an effort to recover the penalties. Historically, the Jacksonville City Council has approved three separate redevelopment incentive agreements with SouthEast, yet none have led to tangible progress on the buildings’ restoration.
The significance of the Laura Street Trio goes beyond their current neglected state. Historian Tim Gilmore has highlighted the importance of preserving these buildings for Jacksonville’s architectural heritage and history, reinforcing the need for responsible renovation efforts.
Avant Construction has a track record of successfully undertaking adaptive reuse projects within downtown Jacksonville, including notable developments like Sweet Pete’s and the Federal Reserve Bank. With this experience, collaboration with the potential buyer offers hope for the future of the Laura Street Trio.
As the deal unfolds and the buyer conducts their assessments, the outcome could mark a crucial turning point for the properties and the broader Jacksonville community. The anticipated restoration efforts could provide new life to a historically significant area of downtown and set the stage for future economic development.
Deeper Dive: News & Info About This Topic
HERE Resources
Renewed Interest in Jacksonville’s Historic Laura Street Trio
Two Proposals Submitted for JEA Tower in Jacksonville
Historic Properties in Jacksonville Face Endangerment
Additional Resources
- News4Jax: New Potential Laura Street Trio Buyer
- Wikipedia: Jacksonville, Florida
- Jacksonville Daily Record: Avant Construction Working with Buyer
- Google Search: Laura Street Trio
- First Coast News: Why Not Just Knock Down the Laura Street Trio?
- Encyclopedia Britannica: Urban Development
- The Jaxson Mag: Time for Laura Street Trio’s Owner to Bow Out
- Google Scholar: Historic Preservation
- Jacksonville.com: Laura Street Trio Ownership Change
- Google News: Laura Street Trio
Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
