A Jacksonville construction company that has revitalized several buildings in the city’s historic Downtown core says it is partnering with an out-of-state buyer interested in acquiring the Laura Street Trio plus the restored Barnett National Bank Building.
Alan Cottrill, president and CEO of Avant Construction Group, said Aug. 12 that the company has begun work on behalf of the potential buyer to perform due diligence for a potential sale of the three buildings at Laura and Forsyth streets.
Cottrill would not identify the buyer but said it is well-capitalized, experienced in historic restoration projects and interested in the Northeast Florida market. He said the buyer has completed developments in Northeast Florida and its principal owns a home in Ponte Vedra.
Cottrill said the buyer and the Trio’s owner, SouthEast Development Group, have entered into a purchase and sale agreement that could result in closure within 90 days.
He said the deal would include The Residences at Barnett, the name of the restored bank building at 112 W. Adams St. across the street from the Trio. SouthEast was also involved in redeveloping that 18-story structure into apartments, offices and retail space.
“It’s of big importance to us, and it carries a big inspiration for us,” Cottrill said of Avant’s involvement in the Trio.
Avant projects
Avant has worked on several adaptive reuse projects Downtown, including:
• The Federal Reserve Bank at 425 N. Hogan St., which is being redeveloped into a members-only social club called The June.
• Sweet Pete’s at 400 N. Hogan St., formerly the circa-1909 Seminole Club.
• The Porter House Mansion, the 1902-built home at 510 N. Julia St. and owned by JWB Real Estate Capital.
• The adaptive reuse of the Hillman-Pratt and Walton Funeral Home at 525 W. Beaver St., which is being converted into apartments and a restaurant.
• The planned restoration of the Juliette Balcony building and adjacent former Mag’s Cafe building in the 200 block of North Laura street into short-term rentals and restaurant space.
Asked about Avant’s interest in historic preservation, Cottrill provided a quote from former President Ronald Reagan.
“The presence of historic properties as working and productive assets in our communities gives us an important link between the past and present, and reminds us of what we were, who we are and where we hope to be.”
For generations of Jacksonville residents, the Trio has been a daily reminder of the city’s past but also the shortcomings of a decades-long effort to revitalize the structures.
The Florida Life Insurance, Bisbee and Marble Bank buildings, which were among the first built in Jacksonville after the 1901 fire that destroyed much of the city, have been vacant for decades. Portions are windowless and have been exposed to the elements.
Examining the Trio
Cottrill said Avant will help determine whether all three buildings can be saved. The work involves a cost, structural and historical analysis that will be conducted partly through use of artificial intelligence-powered 3D imaging technology.
“We’re committed to keeping what can be kept,” he said. “We’re not looking for an easy way out.”
Cottrill said that in Avant’s meetings with the prospective buyer, he had found them to be “down-to-earth, well-established, humble” people.
“We are optimistic” a deal can move forward, he said.
Years without progress
Over the years, the Jacksonville City Council approved three separate Trio redevelopment incentive deals with SouthEast and its principal, Steve Atkins, but none resulted in commencement of work and the city did not pay out the public funding. Atkins has owned the buildings since 2013.
In January 2025, Live Oak Contracting President and CEO Paul Bertozzi told Council members he had entered into a purchase and sale agreement with SouthEast and expected to close on the deal within 45 days.
At that time, the city paused a foreclosure lawsuit it filed months earlier alleging SouthEast-affiliated owner Laura Trio LLC had failed to pay code violation fines on the property that exceed $800,000.
SouthEast countered that the city unfairly used incidents of vandalism and graffiti that were beyond its control as the basis for the suit.
In March 2025, the city said the potential sale of the Trio to Live Oak Contracting had stalled and that the city was resuming action on the lawsuit.
On Aug. 5, a Live Oak spokesperson said the company was no longer involved in negotiations for the property.
“We continue to support meaningful efforts to revitalize Downtown Jacksonville and hope to see positive momentum for the site moving forward,” the spokesperson said in an email.
As for the Barnett building, Cottrill said three floors of the structure remain undeveloped and would be finished off in the purchase. Two of those floors are planned for residences and the other for amenities, he said.