A new chapter could soon be in store for a Downtown Jacksonville building named Juliette Balcony after action Dec. 18 by the Downtown Investment Authority board.
The board voted 8-0 to recommend approval of a $2.56 million incentive package to redevelop the vacant three-story building at 225 N. Laura St. With the vote, the incentives advance to the Jacksonville City Council.
Alan and Ellen Cottrill, co-founders of Avant Construction Group, a Jacksonville-based company with years of experience in historic renovation and adaptive reuse projects, have taken an ownership stake in the building along with Rafael and Carmen Godwin, who bought the building in 2022.
Plans call for eight residential units on the upper floors and a restaurant on the ground floor. The residential units will be offered as short-term rentals through platforms such as Airbnb.
At a recent DIA committee meeting, Alan Cottrill said the owners hoped to select a restaurant tenant within six to eight months.
Total development cost is listed at $5.8 million in DIA documents.
Juliette Balcony is named for the shallow, decorative balconies on its second floor. The building was constructed in 1904, three years after the Great Fire of 1901 destroyed much of Jacksonville.
Ellen Cottrill told the Daily Record that the Godwins planned to buy and renovate Mag’s Cafe and the adjacent building on West Monroe Street. She said the Cottrills’ involvement with Juliette Balcony will facilitate the Godwins in completing that project.
Alan Cottrill said he expects city review to take about four months, and work would begin soon after. He estimated the project would take about 12 months, with completion as early as the first quarter of 2026.
The DIA board vote came without discussion. The resolution was on the board’s consent agenda.