A public auction for the Laura Street Trio of historic buildings in Downtown Jacksonville could be forthcoming this summer as the city of Jacksonville presses ahead in its foreclosure lawsuit against the owner of the property, Mayor Donna Deegan’s top aide told a City Council committee May 29.
Mike Weinstein, the mayor’s chief of staff, provided an update on the long-vacant Trio during the final meeting of the Council Committee on the Future of Downtown.
“We continue to push hard on foreclosure,” he said. “The foreclosure continues to move forward, and possibly within a couple of months these buildings will be sold at auction at the courthouse.”
The city filed the suit in August 2024 alleging that Trio owner Steve Atkins of SouthEast Development Group had failed to pay code violation fines on the property that today exceed $800,000. The buildings, at Forsyth and Laura streets in the historic core of Downtown, were among the first built after the Great Fire of 1901 destroyed most of the city.
The suit, filed against SouthEast-affiliated Laura Trio LLC, came after several rounds of failed negotiations between SouthEast and the city over public incentives to revive the buildings.
Atkins bought the Trio in 2013 for $3 million. He was approved for incentive packages for the buildings in 2017 and 2021 but failed to launch redevelopment efforts, prompting new talks in 2023 and 2024.
Atkins says the city unfairly used incidents of vandalism and graffiti which were beyond his control as the basis for the suit.
The city paused the suit in early 2025 when Live Oak Contracting announced it had reached a purchase and sale agreement for the trio with SouthEast. At that time, Live Oak President and CEO Paul Bertozzi said he expected to close on the deal within 45 days.
In March, the city said negotiations had faltered and that it had resumed action on the suit. The fines, which come with overdue fees, had grown to $827,500 at that time.
Weinstein said the building is subject to three liens – one from the city for nonpayment of the fines, a $6 million to $7 million lien from a creditor and one from an architect.
Dasher Hurst Architects P.A. filed a lien Feb. 6 saying it is owed $474,149.45 for work done between 2013 and 2024.
Committee member Chris Miller said he was surprised and disappointed to hear that the lawsuit appeared to be headed toward a public auction, which he said should be a “last resort.”
Miller said it was his understanding that the ownership interests had offered to pay back part of the fines to help resolve the suit. He asked Weinstein if the city had reciprocated by waiving part or all of the fines.
Weinstein said, “If we took away our liens nothing would be happening and it (Trio) would just sit.”
“We took this posture to make something happen,” he said.
In response to a question from a reporter, Live Oak said it had verbally offered to pay $200,000 of the fines. The company said it did not know whether SouthEast offered any payment.
“Live Oak has remained actively engaged with all parties involved and continues to monitor the situation closely,” the company said in an emailed statement. “While we recognize the potential for a public auction in the coming months, we continue to evaluate the opportunity and remain open to ongoing dialogue as the process evolves.”
Miller said he planned to speak to individuals familiar with the situation to see if there could be an alternative path to a public sale.
“My perspective is always that if we all work together, we can find a good way forward,” Miller said during an interview after the meeting. “It should be all this way or all that way. But we shouldn’t be standing here a year from now saying, ‘We could have done this or we could have done that.’”
The Trio comprises the Florida Life Insurance, Bisbee and Marble Bank buildings at northeast Laura and Forsyth streets. The buildings, which have been vacant for decades, were among the first built after the 1901 fire that destroyed much of Jacksonville.
The three buildings are shielded by historic preservation protections under two separate classifications, having been identified as local historic landmarks and listed as contributing structures within the federally designated Downtown Jacksonville Historic District.
Council member Ron Salem said the buildings had been exposed to the elements for at least 30 years and that he didn’t think they would ever be renovated. He estimated a developer would have to spend $300 million to $400 million on the project.