The historic Laura Street Trio in downtown Jacksonville has a new owner and potentially a fresh path for redevelopment of the long-vacant buildings that a City Council member compares to the epic sea chase for Moby Dick.
BMG Trio LLC, which is affiliated with Becovic Companies, took ownership of the three buildings after submitting the high bid in an Aug. 5 foreclosure auction.
The set of historic buildings date back to the decade after the Great Fire of 1901. The two taller buildings in the Trio were designed by famed architect Henry Klutho.
"These landmark buildings hold a special place in the city's history and represent an important opportunity for the future of downtown Jacksonville," company owner and president Muhamed Becovic said after
the foreclosure auction.
City Council member Matt Carlucci said he believes Becovic can accomplish what past Laura Street Trio owners haven't been able to do over the past three decades.
"I think he will be the one," Carlucci said. "He's the right man at the right place at the right time for Laura Street Trio, and I believe that Moby Dick will finally be harpooned and put in the boat."
Mayor Donna Deegan also welcomed the new ownership.
"We remain committed to revitalizing the Laura Street Trio — an important part of Jacksonville’s history and downtown — and look forward to working with the new owner to do so," city spokesman Phillip Perry said.
Becovic said the company will release plans "in the near future" for the buildings.
He called the acquisition "a historic milestone for the Becovic Companies and our family — one that we are proud to carry forward with a deep sense of responsibility and purpose. We appreciate the significance of this property and look forward to engaging with local leaders, stakeholders and the broader community as we evaluate the path ahead."
After the city filed a foreclosure lawsuit against Laura Trio LLC over unpaid liens levied by the city on the building, BMG Trio LLC took over the mortgage on the buildings and became the plaintiff in the foreclosure lawsuit that resulted in the auction.
BMG Trio submitted the high bid of $125,000 in the online auction handled by the Duval County Clerk of Courts.
The family-owned company has been involved in residential property management services since1973. Becovic Management Group is based in Fishers, Indiana and Becovic Companies has an office in downtown Jacksonville on North Laura Street near the Laura Street Trio.
Becovic's portfolio in Indiana and Florida includes The Residences at Barnett — an 18-story tower across from Laura Street Trio — and Lost Lake Luxury Apartments on A.C. Skinner Parkway on the Southside of Jacksonville.
This article originally appeared on Florida Times-Union: Quest for Laura Street Trio restoration in downtown gets new owner
