Laura Street Trio proposal still a possibility after amended DIA resolution passes

JACKSONVILLE, Fla. — The Laura Street Trio project still has a chance with the current owners after an amended resolution passed unanimously Wednesday.

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“I don’t think we’re at the end of this. We’re going to get this done,” Jason Gabriel, a representative for developer Steve Atkins, said.

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It comes after Action News Jax told you about a contentious back and forth that started last week.

Downtown Investment Authority CEO Lori Boyer proposed a resolution that would end negotiations with Atkins over concerns about a proposal in March that would require the city to back a private loan for new construction, including a hotel and apartments around the historic trio.

The owner said he wasn’t given the opportunity to engage with the board and called the move “reflective of development projects proposed by private interests for Downtown Jacksonville.”

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Boyer said that was not true.

Last Friday, the board deferred Boyer’s recommendation. Now a new resolution that was passed says “The DIA remains willing to discuss future alternative financing structures that exclude the unconditional Guaranty of the City.”

Gabriel said discussions with financiers from across the country are already in the works and other financing options could be on the table in the coming weeks.

Council Member Matthew Carlucci said the original resolution recommended by Boyer was premature. On Wednesday, he said he was happy with the amendments.

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“Downtown redevelopment has been like a donut. The core is the hole — and we need to start filling up that hole,” he said.

“The market is not the best right now and we’re working through a lot of turbulences. But I think we’re going to get there,” Gabriel added.

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