It was designed by architecture firm Mowbray & Uffinger for Barnett Bank.

By the late 1990s it had fallen into disrepair; plans to restore and redevelop the building were proposed throughout the 2000s, but ultimately fell through.

[3][4] A local group led by developer Steve Atkins purchased the property, along with the Laura Street Trio, with the help of a loan from Stache Investments.

[5] On May 22, 2015, Stache Investments filed a complaint to foreclose on the building, claiming it is owed almost $3.77 million as of December 5, 2014.

It is now home to the University of North Florida Center for Entrepreneurship, commercial offices, 107 apartment units, Vagabond Coffee, and a Chase Bank branch location.