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Peace University purchase of Seaboard Station approved

Posted August 7, 2013

Seaboard Station

— A bankruptcy court judge on Wednesday approved William Peace University's $20 million bid to purchase the neighboring Seaboard Station retail center.

The owners of Seaboard Station, which is off Halifax Street north of downtown Raleigh, filed for bankruptcy last year, and Peace officials have eyed the center for months as a way to generate revenue and expand.

William Peace University University officials say they plan to work with merchants, community

Community groups and some retailers have expressed concern about the move, fearing Peace would replace shops with dormitories, parking garages and athletic fields.

“We don’t feel that a university’s long-term goals for expansion are necessarily the same of a popular retail shopping center like Seaboard Station,” Philip Bernard, a community advocate, said in June.

School President Debra Townsley told the Raleigh City Council in April that nearby retail is an amenity that the university uses to attract students, so changing the nature of Seaboard Station wasn't planned.

William Peace officials issued a statement Wednesday saying that the sale isn't final with the bankruptcy court's decision and that, if the university completes the deals, it plans to work with the community to enhance Seaboard Station's value.

"We are committed to our neighbors and want the area to be the best place to live, work and go to school," the statement said.

Antwan Marcel, owner of Sola Salons, said he hopes William Peace will expand Seaboard Station over time.

"The parking is pretty tight will all of the new businesses here," Marcel said. "It would be good to have more parking and just not have it so cluttered."

32 Comments

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  • micah Aug 8, 2013

    Ummm, Dave...Seaboard isn't in bankruptcy because the shopping center itself is having any issues. It is in bankruptcy because the owners and developers used the property as collateral for other projects (in other states) that fell into foreclosure. Seaboard was basically used as collateral for other failed projects. Pretty common in the development world.

  • davework Aug 8, 2013

    "“We don’t feel that a university’s long-term goals for expansion are necessarily the same of a popular retail shopping center like Seaboard Station,” Philip Bernard, a community advocate, said in June."

    While I like Seaboard Station - unfortunatley, if it were popular enough it probably wouldn't be in bankruptcy

  • Southern Girl Aug 7, 2013

    Sure do hope Logan's doesn't close. That would be such a shame.

  • corey3rd2 Aug 7, 2013

    "What the heck is Seaboard Station?"
    Google it.

  • raleighwakenative Aug 7, 2013

    Peace College absolutely was the impetus behind the closure of Franklin Street that ran through the campus.

  • hisgoddess2354 Aug 7, 2013

    I have two friends with sons that will start this coming school year with that college and they are going to be part of the first male baseball team for the college since they have became a coed school. They are looking for a place to put in a field for the baseball players and looks like they might have found one...

  • IBleedRedandWhite Aug 7, 2013

    Agreed with the mixed use idea. There are some really good places to eat over there and I hope that they aren't booted out in favor of just residential areas for students. A mixed use area of restaurants, housing, and retail would be a really good use of space and could attract potential students.

  • GravyPig Aug 7, 2013

    "What the heck is Seaboard Station?"

    SMH.

  • keeprightexcepttopass Aug 7, 2013

    I hope the restaurants don't panic and leave. I just got a little taste from back home with the opening of Donatos. I'd hate to see it go.

  • Liveandlearn Aug 7, 2013

    Meredith College utilized and made a great decision when apartments were built on campus to bring in income to the school. College kids do not want to stay in the dorms for all four years and move out to apartment complexes in the city. Maybe the space will be like a mixed commercial as well as apartment dwellings done with the same architectural design as Seaboard Station. It would be cool.

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