SouthEast Development Group is adding a new structure of 166 apartments to its development plan for the Laura Street Trio Downtown.
It proposes an 11-story, 160,000-square-foot building between the Florida Life Building and 25 W. Forsyth St. parking garage.
“Expanding the Laura Street Trio development plan to include multifamily housing has been a goal of mine for several years. Between our successful multifamily leasing program at The Barnett and increased demand for housing at various price points, we’re confident that this new multifamily product will be a welcome addition to the neighborhood,” said Steve Atkins, Southeast principal and managing director, in a Jan. 4 news release.
He said 20% of the units will be workforce housing for tenants earning up to 80% of the area median income.
“When developers recognize the benefits of mixed-income housing, our entire community benefits. We commend SouthEast Development Group for its commitment to workforce housing at the Laura Street Trio development,” said Dwayne Alexander, CEO of the Jacksonville Housing Authority, in the release.
The addition increases the project to 250,000 square feet at an estimated cost of $165 million.
Construction of the apartment building was previously discussed as a second phase of the Trio project.
Instead, it will be constructed concurrent to the adaptive reuse of the Laura Street Trio buildings. Plans for the historic Trio include a 142-room Autograph Collection Hotel by Marriott.
The project team for the Laura Street Trio is Dasher Hurst Architects, Danis Construction, Pyramid Hotel Group and Piper Sandler & Co.
The Downtown Development Review Board is scheduled to evaluate the expanded design plan Jan. 13.
