Peace University signs deal to buy Seaboard Station
Posted June 28, 2013
Raleigh, N.C. — The future of a popular and growing downtown Raleigh shopping destination is in question amid a neighbor's growth plans. Peace University on Friday announced that it had signed a contract to purchase Seaboard Station.
The retail and dining complex sits along the university's west border, along Peace Street between Halifax Street and Capital Boulevard.
In recent months, university leaders have targeted the property as a possible way to expand the campus, and Peace President Debra Townsley reiterated Friday her intention to work with the community should the deal get court approval.
“Seaboard Station is one of downtown Raleigh’s most desired and growing attractions, we look forward to working with the community in a positive way to further enhance the value of Seaboard Station in the city and beyond,” Townsley said in a statement.
Shop owners and community groups had sought to stall the deal, wondering what would become of the current tenants if Peace buys the property.
“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,” said Philip Bernard, a community advocate.