JACKSONVILLE, Fla. – An Indiana-based developer is now the owner of the Laura Street Trio after winning an auction Wednesday with a $125,100 bid.
Back in February, The Becovic Companies positioned itself to acquire the landmark buildings by taking over the property’s mortgage. The company announced it planned to purchase and renovate the Trio with an adaptive reuse of all three buildings and new construction on the site.
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“We are pleased to confirm our acquisition of Jacksonville’s historic Laura Street Trio through the auction process. These landmark buildings hold a special place in the city’s history and represent an important opportunity for the future of downtown Jacksonville,” Muhamed Becovic, president of the Becovic Companies, said in a statement sent to News4JAX. “This acquisition is also 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.”
The Trio comprises the Florida Life Insurance, Bisbee and Marble Bank buildings at northeast Laura and Forsyth streets. The buildings were among the first built in Jacksonville after the 1901 fire that destroyed much of the city.
They have been vacant for decades amid several failed redevelopment plans, with ground-floor openings boarded up and upper-story windows missing.
Alan Cottrill, president and CEO of Avant Construction Group, said in August 2025 that Avant had begun work on behalf of the potential buyer, which was later revealed to be Becovic, to perform due diligence for a potential sale of the Trio.
“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. We will release further information about our plans in the near future,” Becovic said.