JACKSONVILLE, Fla. – September 16, 2024 – Live Oak Contracting®, a full-service general contracting firm specializing in multifamily and commercial construction, and SouthEast Development Group, LLC, a commercial real estate and development firm, have partnered in a transformative public-private initiative to restore and revitalize the Laura Street Trio – Jacksonville’s most significant group of historic buildings from the early 1900s.
As a Co-General Partner (GP) on the project, Live Oak® will not only contribute as a construction partner under the leadership of Turner Construction but will also play a pivotal role as an equity investor alongside SouthEast Holdings, LP, and SouthEast Community Investment Fund, LLC.
Emblematic of Jacksonville’s “Golden Age,” the Laura Street Trio is a revered icon of the city’s Central Business District. Recognized as the pinnacle of the region’s architectural heritage, these structures are the most important historic buildings yet to be restored. Their storied past and central role in Jacksonville’s business community make them irreplaceable symbols of the city’s history.
Together, Live Oak® and SouthEast Development Group will collaborate to present a visionary proposal that promises to breathe new life into these historic assets. This creative adaptive reuse development plan will transform the Laura Street Trio into a vibrant mixed-use destination featuring:
- A143-Key Four-Star Autograph Collection Hotel by Marriott: A premier hotel brand that will offer luxurious accommodations and enhance the city’s hospitality landscape.
- 169 Blended-Rate Multifamily Apartments: Providing diverse residential options to meet the needs of a broad demographic.
- Dynamic Retail and Entertainment Spaces: Introducing unique venues and experiences that will be unlike anything else in Northeast Florida.
Steve Atkins, Principal and Managing Director of SouthEast Development Group, has been instrumental in crafting this innovative plan. His dedication to the project reflects a deep understanding of both the city’s heritage and its future potential. “Partnering with Live Oak® to advance the Laura Street Trio project is a pivotal step toward realizing our shared vision for downtown Jacksonville,” said Atkins. “Our combined efforts are focused on delivering a project that not only preserves but reimagines these historic structures for future generations.”
Commitment to Downtown Jacksonville
Live Oak’s deep connection to the city is evident in its decade-long presence in downtown Jacksonville, and its direct involvement in the revitalization of its historic landmarks further strengthens that commitment.
“As a company that has proudly called Jacksonville home for the past decade, Live Oak® is deeply invested in the future of this city. Our headquarters is right across the street from the Laura Street Trio, making this project incredibly personal. We’re excited to be part of revitalizing a piece of Jacksonville’s history and to create a space that will serve generations to come,” said Paul Bertozzi, CEO of Live Oak® Contracting.
A Project Years in the Making
Katherine Ruttell, Director of Marketing and Development for Live Oak®, shared her thoughts on the significance of this partnership. “This project has been years in the making. Building the type of platforms necessary for a transformative project like this takes time, and we are honored to be invited to join the SouthEast team. We’re ready to move quickly and ensure that the construction process is seamless.”
She added, “I look forward to hardhat tours and a groundbreaking ceremony in the near future as we begin turning this vision into reality.”
City and Community Support
The City of Jacksonville’s official CRA Plan highlights the Laura Street Trio as the greatest opportunity to celebrate the city’s rich heritage while creating new opportunities in hospitality and residential living. This redevelopment aligns perfectly with the city’s goals for revitalization and heritage preservation.
City Council member Kevin Carrico echoed this sentiment, praising the new partnership. “The involvement of Live Oak® Contracting is a tremendous boost to the Laura Street Trio project. I’m happy to see the city working alongside the new development team and taking decisive steps to move this revitalization effort forward. While there’s still work ahead, I’m optimistic that with this collaboration, we can achieve terms that benefit everyone and finally bring this landmark project to life for downtown Jacksonville.”
The Laura Street Trio redevelopment represents a chance to blend the old with the new, setting the stage for future generations to enjoy and appreciate these architectural masterpieces.
For media inquiries, please contact:
Katherine Ruttell
Director of Marketing & Development
Live Oak Contracting®
Phone: 904.497.1500
Email: kruttell@liveoakcontracting.com
Stephen Atkins
Principal & Managing Director
SouthEast Development Group, LLC
Phone: 904.993.1879
Email: satkins@southeastgroup.com
