$24.67M Laura Street Trio Incentives Deal Advances To Jax City Council
A $24.67 million taxpayer incentives package for SouthEast Development Group LLC’s plans to renovate the historic Laura Street Trio in Downtown Jacksonville is headed to City Council.
WJCT News partner the Jacksonville Daily Record reports the Mayor’s Budget Review Committee voted 7-0 on July 12 to approve the Downtown Investment Authority’s request to file legislation to approve the agreement.
The Trio buildings, built between 1902 and 1912, are The Florida Life Insurance, Bisbee and Marble Bank buildings at Forsyth and Laura streets.
SouthEast’s $70.48 million proposal would convert the vacant structures into a 145-room Marriott Autograph Hotel with a restaurant, lounge, ground-floor retail and a bodega grocery.
The buildings are historic and part of the Downtown Jacksonville National Register District.
Plans also call for an eight-story addition to complete the hotel.
A legislative fact sheet in the meeting packet says SouthEast agrees to have no less than 140 hotel rooms in the project with 86 rooms in the historic buildings. The remaining rooms would be in the addition planned for the northwest corner of the property.
Read the rest of this story at JaxDailyRecord.com.