Supply surge: More luxury apartments come to Raleigh’s historic Seaboard Station
New luxury apartments are hitting the market in Raleigh’s massively redeveloped Seaboard Station on the north edge of downtown.
This spring, leasing will start at The Miles, a 204-unit, seven-story building at 10 W. Franklin St. It’s part of the second phase of an ongoing $500-million mixed-use overhaul by Washington, D.C.-based developer Hoffman & Associates.
It features studios, one-, two- and three-bedroom units ranging from 483 to 1,294 square feet; and townhouses/lofts ranging from 1,338 to 1,984 square feet.
Among the perks, residents will have access to 14,000 square feet of amenities: co-working spaces, a “Makers’ Studio,” 24-hour gym, gaming lounge, saltwater pool, outdoor courtyard with grill stations, and entertainment bar.
Prices will start at around $1,300 and run up to $6,000 per month. Move-ins begin this summer.
“As we approach the completion, we’re excited to offer our future residents a lifestyle unique to this community,” said John Florian, Hoffman’s executive vice president of development, in a release.
The Point, 75 apartments, which is also part of the second phase, will also begin pre-leasing next month. A 149-room Hyatt House hotel and rooftop bar-and-restaurant is slated to open this June. The ground floor has 55,000 square feet of retail space where retailers are opening on “a rolling basis,” said a company spokesperson.
The Eye Institute is already open. New restaurants Biscuit Belly and The Yard Milkshake Bar are coming soon. The future lineup also includes Sweathouz, Body Fit Training and Starbucks, she said.
Seaboard Station sits on 6.67-acres between the historic Seaboard Railroad Station and William Peace University. The first phase, which kicked off in 2021, included The Signal, 298 apartments that opened last year and is currently offering move-in deals.
A third phase is planned, though developers have not yet released details.
Financing is being provided by United Bank, along with syndicate partners Burke & Herbert Bank, Sandy Spring Bank and Dogwood State Bank.
(Note: Hoffman’s Seaboard Station is not affiliated with another development nearby being led by New York-based Turnbridge Equities. The Turnbridge project is on the site of the historic train station.)
This story was originally published March 18, 2024 at 9:25 AM.
