JACKSONVILLE, Fla. – A special City Council committee on the future of downtown Jacksonville will meet Monday to discuss what’s next for the Laura Street Trio.
The meeting comes two weeks after the mayor’s office announced that talks with the developer were permanently ending.
The meeting could include terms for a new agreement.
Councilman Kevin Carrico said he wants to save the long-vacant buildings, and as chair of the special committee, he plans to review the latest terms and look for a path forward.
Steve Atkins‘ SouthEast Development Group bought the Trio in 2013 with plans of redeveloping the long-neglected properties. The plans included a four-star hotel, close to 170 apartments, a restaurant, a bar, and other entertainment spaces.
The proposed plan would have cost more than $188 million and the expectation was that it could have been completed within two years.
But negotiations got bumpy and the city filed a foreclosure lawsuit against the developer in August, saying the group owed the city $800,000 in unpaid fines for municipal code violations.
The lawsuit was dropped in September when it seemed like the sides would be able to figure something out and continue with the project.
In September, Carrico said he hoped to see an agreement in place by the end of the year.
But once again, things fell apart, and the city has since re-filed the lawsuit after saying earlier this month that negotiations were ending permanently.
The mayor’s office said the developer was asking too much and that there was too much risk to taxpayer money. The developer, on the other hand, said the talks ended because of a lack of communication and respect.
Both sides accused each other of negotiating in bad faith.
In a press release, Carrico expressed disappointment over the administration’s decision to stop negotiations. The release went on to explain that the Administration had requested that he “take a step back” over the past eight weeks, hoping Weinstein would secure a constructive outcome.
“This lack of responsiveness shows a troubling lack of commitment to preserving our city’s historic sites,” Carrico said in the statement. “By refusing to set aside the looming threat of a lawsuit, the administration is jeopardizing the project and leaving our historic buildings at risk of further deterioration. A lawsuit should not be weaponized to undermine efforts; rather, it should be waived as part of any city incentive aimed at preserving these landmarks.”
“We look forward to collaborating closely with the Jacksonville City Council and the Special Committee on the Future of Downtown to ensure the success of this transformative project,” Atkins said. “Together, we can bring new life to the Laura Street Trio and honor its legacy at the epicenter of Downtown Jacksonville.”
Read the full statement from Atkins and SouthEast Development Group below.
The Mayor‘s Office responded to Carrico’s statement:
It’s simply inaccurate to imply a lack of engagement. As Vice President Carrico well knows, city negotiators met multiple times with the Trio developer and his lobbying team over the past few months. As outlined in our detailed summary, we considered many different deals during that time. However, every time the developer and his lobbyist moved the goal posts, the city’s financial contribution and risk exposure kept increasing. Furthermore, the developer broke the terms of the agreement that were in place for the city to remove its lawsuit.”
If the city forecloses on the property, the buildings could be demolished.