Investors Bring Life Back to Downtown Jacksonville

A group of investors recently bought multiple buildings in Downtown Jacksonville, Florida, joining the growing trend to bring life back to the vacant buildings of the area.

SouthEast Holdings, a real estate investment trust lead by Steve Atkins, bought the Laura Street Trio, which consists of the Florida Life, Bisbee, and Florida National Bank buildings. They also purchased the Barnett Bank building at Adams and Laura streets.

Other downtown investors have recently bought buildings to open retail stores, bars, and more.

Although Atkins did not go into much detail with the Times-Union, he did say that SouthEast Holdings’ project would be of mixed use and would include a university-level education center with student housing and a parking garage.

He also said that the SouthEast Holdings hopes to help further development of Downtown Jacksonville. Currently, there are about 3,000 people living in the area, but the city has a goal of 10,000.

Stache Investment Corp., which is headed by Jacksonville Jaguars owner Shad Khan, lent SouthEast Holdings the money to buy the buildings.

Source: Florida Times-Union

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