Jacksonville, Florida, February 10, 2026
Becovic Management Group has assumed the mortgage for the historic Laura Street Trio in downtown Jacksonville, Florida. The acquisition aims to revitalize the long-vacant properties, which include three historic buildings and plans for new developments. Closing is tentatively set for December 2025. This project hopes to restore these important structures, which hold historical significance dating back to the early 1900s.
Jacksonville, Florida – Becovic Management Group Assumes Mortgage for Laura Street Trio
Jacksonville, Florida – Becovic Management Group, an Indiana-based real estate developer, has taken over the mortgage for the historic Laura Street Trio in downtown Jacksonville. This move is part of a broader plan to revitalize the long-vacant properties, which include the Florida Life Insurance, Bisbee, and Marble Bank buildings.
Details of the Acquisition
The acquisition involves the Laura Street Trio and the adjacent Barnett National Bank Building. Becovic Management Group plans to close on the Barnett building on December 9, 2025, and has set a tentative closing date of December 18, 2025, for the Trio. The sales price has not been disclosed. The Trio is owned by Laura Trio LLC, affiliated with SouthEast Development Group, while the Barnett building is owned by Las Vegas-based Barnett Tower 2 LLC.
Plans for Redevelopment
Becovic Management Group intends to renovate all three Trio buildings and add new construction on the property. The finished project will include multifamily units, a hotel, commercial and retail space, and a restaurant. Specific details are still being determined. The Trio comprises the Florida Life Insurance, Bisbee, and Marble Bank buildings at northeast Laura and Forsyth streets. These buildings were among the first constructed in Jacksonville after the 1901 fire that destroyed much of the city. They have been vacant for decades amid several failed redevelopment plans, with ground-floor openings boarded up and upper-story windows missing.
Background Context
Founded in 1973, Becovic Management Group is a family-owned business headquartered in Fisher, Indiana. The company has developed and sold luxury apartment developments in Northeast Florida and owns properties such as the Lost Lake at 8681 AC Skinner Parkway. In August 2025, the company sold The Howell at the Preserve Apartments at 780 Island Point Drive for $37.75 million. The Laura Street Trio has been a focal point for redevelopment efforts in Jacksonville, with previous plans failing to materialize. The involvement of Becovic Management Group brings renewed hope for the restoration and revitalization of these historic structures in downtown Jacksonville.
Key Features of the Redevelopment Project
| Feature | Description |
|---|---|
| Property | Laura Street Trio and Barnett National Bank Building |
| Location | Downtown Jacksonville, Florida |
| Developer | Becovic Management Group |
| Planned Components | Renovated historic buildings, new construction, multifamily units, hotel, commercial and retail space, restaurant |
| Closing Dates | December 9, 2025 (Barnett building), December 18, 2025 (Laura Street Trio) |
| Sales Price | Not disclosed |
| Historical Significance | Among the first buildings constructed in Jacksonville after the 1901 fire |
FAQ
Who is Becovic Management Group?
Becovic Management Group is a family-owned real estate development company founded in 1973, headquartered in Fisher, Indiana. The company specializes in developing and managing residential and commercial multifamily properties across the Midwest and Florida.
What is the Laura Street Trio?
The Laura Street Trio consists of three historic buildings in downtown Jacksonville: the Florida Life Insurance, Bisbee, and Marble Bank buildings. Constructed after the 1901 fire that destroyed much of the city, these structures have been vacant for decades and are now slated for redevelopment.
What are the plans for the redevelopment of the Laura Street Trio?
Becovic Management Group plans to renovate all three Trio buildings and add new construction on the property. The finished project will include multifamily units, a hotel, commercial and retail space, and a restaurant. Specific details are still being determined.
When are the closing dates for the acquisition?
Becovic Management Group plans to close on the Barnett building on December 9, 2025, and has set a tentative closing date of December 18, 2025, for the Laura Street Trio. The sales price has not been disclosed.
What is the significance of the Laura Street Trio?
The Laura Street Trio is significant as it comprises some of the first buildings constructed in Jacksonville after the 1901 fire. Their revitalization is seen as a key step in the ongoing efforts to rejuvenate downtown Jacksonville.
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