“Ariete Hospitality Group CEO Andrew Falsetto told the Jacksonville Business Journal in January 2025 that it is in discussions with building owner Group RMS to build out a restaurant on the ground floor of the Bank of America tower.” Falsetto and AHG (which owns nine, going on 12, restaurant/bar concepts in Miami, one of which has a Michelin Star) are interested in bringing a restaurant concept to Downtown Jax.
With restaurant concept plans in final stages and discussions ongoing with the Downtown Investment Authority, construction plans could unfold soon. The restaurant concept would go in one of the ground floor spaces in the tower, and doors would be added to allow for direct access from the street. This effort to turn the building “inside out” by allowing for exterior entry rather than one entry point and interior circulation is an urban planning best practice that promotes pedestrian activity.
The Laura Street Trio consists of three historic early-20th-century buildings – the Florida National Bank, Bisbee, and Florida Life buildings – located at the corner of Laura and Forsyth streets in the heart of Downtown Jacksonville. The properties are listed on the National Register of Historic Places and have long been identified as a priority historic preservation site.
Most recently, ownership interests associated with Indiana-based Becovic Management Group acquired the mortgage and development position for the Trio and the adjacent Barnett National Bank Building. Prior redevelopment plans contemplated a mixed-use adaptive reuse including a boutique hotel, retail, and residential components. The project remains in review as updated plans and agreements are evaluated.
Gateway Jax purchased the Ambassador Hotel and nearby parcels in March 2025 for $17 million, with plans to transform it into a premier hospitality destination in partnership with the Indigo Road Hospitality Group. The team has begun work to convert the long-vacant, historic Ambassador Hotel into a 105-key hotel with a high-end restaurant and bar, conference space, and other amenities. The plans also include future development of the adjacent historic Central National Bank building and construction of a small parking garage to serve the hotel and Pearl Square.
