JACKSONVILLE, Fla. — A housing development group announced the expansion to the Laura Street Trip project in Downtown Jacksonville.
According to the SouthEast Development Group, the developent includes an 11-story building adjacent to the Historic Florida Life Building. The development also includes a 142-room hotel.
The expansion will include 166 untis of mixed-income multifamily housing, adding 250,000 square feet to the original development. This plan is set to be reviewed on Jan. 13 by the Downtown Development Review Board.
“Together with our project team, we’re pleased to share that the iconic Laura Street Trio development will support Downtown’s evolution as a 24/7 neighborhood by adding to its residential density,” said Steve Atkins, Principal and Managing Director of SouthEast Development Group. “Expanding the Laura Street Trio development plan to include multifamily housing has been a goal of mine for several years. Between our successful multifamily leasing program at The Barnett and increased demand for housing at various price points, we’re confident that this new multifamily product will be a welcome addition to the neighborhood.”
Of the residential apartments included in the expansion, 20% of the them will be offered as workforce housing for tenants earning up to 80% of the area median income as part of a community-building program. The program is a partnership between the SouthEast Development Group and Jacksonville Housing Authority.
“When developers recognize the benefits of mixed-income housing, our entire community benefits. We commend SouthEast Development Group for its commitment to workforce housing at the Laura Street Trio development,” said Dwayne Alexander, CEO of the Jacksonville Housing Authority.
SouthEast Development Group plans to unviel its updated renderings during the Downtown Development Review Board meeting next week.