William Peace University Seeks Partner for Continued Development of Seaboard Station
Five years ago, William Peace University purchased Seaboard Station as a strategic investment and as a way to enhance the local community surrounding the University. Since that time, Seaboard Station has become recognized as a thriving retail center and we have seen a resurgence of the north end of downtown Raleigh.
Today, we are announcing that the University intends to sell a portion of the property. We will retain a portion of the Seaboard District that is designated as university-owned land and maintain an active voice in future development of Seaboard Station. A sale would allow WPU to generate a strong return on its investment and strategically direct those resources into the endowment as well as additional facilities, programs and opportunities for students. These steps will be perfectly in line with our Believe in Peace Strategic Plan and our newly developed Campus Master Plan.
We will work closely with TradeMark Properties to find a partner who has a vested interest in not only the retail center but also the north end of downtown Raleigh. We are committed to finding a partner who will bring about the best possible outcome for the retail areas as well as our downtown community.