Plans finalized for the $300 million redevelopment of Seaboard Station in Raleigh
Raleigh’s Peace Street corridor just outside of downtown is changing and finalized plans for a major change to it have been announced.
The Seaboard Station property that harbors restaurants and retail will see a $300 million redevelopment into a massive commercial and residential development, with construction expected to start this year, the Washington, D.C.-based Hoffman & Associates firm announced.
The redeveloped Seaboard Station will have more than 130,000 square feet of retail and up to 650 new apartment units across mid-rise buildings with communal spaces and plazas, renderings show.
“We are excited to honor the legacy of this historic location with a design that will contribute to this vibrant community, making it a destination for downtown Raleigh, surrounding neighborhoods and the region,” said John Florian, vice president of development for Hoffman & Associates in a news release.
Florian described it as an “expanded urban neighborhood that seamlessly fits with the existing landscape,” which will be just across from William Peace University.
Hoffman & Associates bought the Seaboard Station property for $34 million in 2018 with aspirations to to build the residential and retail project in three phases. The first phase is slated to be finished in mid-2022, the firm told The N&O.
The redevelopment aims to preserve some of its original structure, which used to be a train depot and warehouse center when built in 1942 and then redeveloped in the 1990s.
The first phase will have 300 apartment units and 30,000 square feet of retail space, the developer said.
The developer previously told The N&O they’re planning to build a hotel facing the corner of West Peace and Halifax streets.
The site’s current tenants like The Night Kitchen, Hunt & Gather and others will remain open during construction, the firm said. The well-known local garden center Logan’s Trading Co. near the property also will remain open.
“As owner of this property, we’re not directly affected, but we’re invested in the neighborhood and community and hope the new owners will be thoughtful developers, friendly neighbors and good partners,” owner Josh Logan told The N&O previously.
However, coming redevelopment brought the closing last year of Sunflower Cafe and 18 Seaboard, two popular Raleigh eateries.
Hoffman’s bid for the property was selected from 13 offers, according to Peace University, and proceeds from the sale went into an endowment to pay for the school’s infrastructure. The university bought the property for around $20 million in 2013, investing about one-third of its $33 million endowment at the time, The News & Observer previously reported.
Located near the north of downtown, the Peace Street corridor that intersects with the active Glenwood South nightlife strip has seen big changes. The revamped Seaboard Station will be down the street from Kane Realty’s new Smoky Hollow residential and commercial mid-rise towers that just debuted downtown’s first Publix grocery store.
