PN Hoffman Buys Seaboard Station in North Carolina, Plans $250 Million Redevelopment

Seaboard Station in Raleigh, North Carolina, will be developed into an 800,000-square-foot mixed-use project. (Image courtesy of William Peace University) Seaboard Station in Raleigh, North Carolina, will be developed into an 800,000-square-foot mixed-use project. (Image courtesy of William Peace University)

Raleigh, N.C. — PN Hoffman has purchased Seaboard Station in the north end of downtown Raleigh from William Peace University (WPU) for $34 million.

The Washington, D.C.-based developer plans to build a $250 million, 800,000-square-foot mixed-use development consisting of approximately 650 apartments, 150 hotel rooms and 135,000 square feet of retail space. The development sits on seven acres and will be built in three phases, though a timeline was not disclosed. TradeMark Properties represented WPU in the sale. The liberal arts college will remain an active voice in the future of Seaboard Station, according to PN Hoffman.

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