The Laura Street Trio: A Historic Trio in Search of a Future

The Visit Jacksonville office signage welcomes visitors to the Laura Street Trio, a part of the downtown development boom that's fizzling. The Laura Street Trio, a cluster of three historic buildings in downtown Jacksonville, Florida were among among the first new structures built after the Great Fire of 1901. Comprising the trio are the Old Florida National Bank (also known as the Marble Bank), the Bisbee Building, and the Florida Life Building. For the past two decades, these architectural gems have been vacant and deteriorating while developers and the city try to figure out a path for restoration and further development. 

Old Florida National Bank (Marble Bank):

• Location: Corner of Forsyth and Laura Streets

• Construction: 1902

• Architect: Edward H. Glidden

• Style: Classical Revival

• History: Originally built as the Mercantile Exchange Bank, then bought by Florida Bank & Trust in 1905. Renovated in 1916 and 1950s.  

Bisbee Building:

• Location: Adjacent to the Marble Bank on Forsyth Street

• Construction: 1908-1909

• Architect: Henry J. Klutho

• Style: Chicago School-influenced Prairie Style

• History: First reinforced concrete high rise in the Southern United States. Won a race to be Jacksonville's first skyscraper.  

Florida Life Building:

• Location: Next to the Marble Bank's back wall, facing Laura Street

• Construction: 1911-1912

• Architect: Henry J. Klutho

• Style: Chicago School-influenced Prairie Style

• History: Tallest building in Jacksonville and Florida when built.  
  

Restoration Attempts and Funding Challenges

The 2000s saw a renewed interest in restoring the Laura Street Trio. The City of Jacksonville acquired the buildings in 2002, but initial development attempts fell through due to the 2008 housing market crash. SouthEast Development Group, led by Steve Atkins, emerged as the latest contender in 2010 with a redevelopment plan. However, the project's high cost, estimated at $191 million in 2024, became a major hurdle. A significant portion of this cost involved non-revenue generating restoration work, prompting SouthEast Development Group to request $89 million from the Downtown Investment Authority (DIA). 

Ownership Changes

-Late 20th Century: By the late 20th century, the buildings were in decline and had changed hands multiple times. Some owners allowed the buildings to deteriorate, while others made unsuccessful attempts at restoration.

-2002: The City of Jacksonville acquired the Laura Street Trio to prevent further deterioration and facilitate redevelopment.

-2004: Orlando developer Cameron Kuhn purchased the Trio, as well as the nearby Barnett National Bank Building, with plans to restore them.

-2008: Kuhn went bankrupt during the 2008 housing market crash, leaving the Trio and the Barnett Building abandoned.

-2010: Steve Atkins of the Atkins Group and Capital City Partners acquired the buildings and proposed a redevelopment plan.-2017: The Downtown Investment Authority provided Atkins and Las Vegas-based The Molasky Group the go-ahead on a 78 million dollar incentives package with Mayor Lennie Curry's office guaranteeing an additional 10 million dollars. -2021: The City of Jacksonville approves $26.7 million incentive package for Atkin's firm to begin construction late that year. 

-2024: The buildings are owned by SouthEast Development Group, which is led by Managing Director Steve Atkins, but their future is uncertain following the failure of negotiations with the Downtown Investment Authority. 

Negotiations Stall and the Future Remains Uncertain

The DIA deemed the upfront funding request too risky for taxpayers and ultimately ended negotiations with SouthEast in June 2024. While the project's future with the DIA seems bleak, SouthEast remains hopeful. A special city council committee formed to explore funding options for the project offers a glimmer of hope. 

Timeline of Events

-Early 1900s: The Laura Street Trio is constructed.

-1990s: The buildings fall into disrepair.

-2002: The City of Jacksonville acquires the buildings.

-2008: Initial development attempts fail.

-2010: SouthEast Development Group proposes a redevelopment plan and receives city government support.

-2024 (May): Negotiations between DIA and SouthEast reach an impasse due to funding disagreements.

-2024 (July): DIA ends negotiations with SouthEast.

-2024 (August): A city council committee explores funding options for the project. 

While the future of their restoration remains uncertain, the pressure to preserve these historic landmarks is mounting. With downtown Jacksonville experiencing a surge in development and the prominent location of Visit Jacksonville just next door, there are compelling reasons for both the developer and the city to find a mutually beneficial solution. The success of the Trio's restoration would not only revitalize a significant portion of downtown but also serve as a powerful symbol of Jacksonville's commitment to its architectural heritage.

​​​