Northern part of downtown Raleigh grows denser and taller at Seaboard Station
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The Triangle is growing up and out
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Seaboard Station will get denser and taller with significant advancements expected in the coming year in the northern part of downtown Raleigh.
Some residents are already moving into The Signal apartments, the first phase of the Seaboard Station development.
The first phase of the Hoffman & Associates development began construction in 2021 and is expected to be finished in March, including the 298-unit apartments, 30,000 square feet of retail and nearly 500 parking spaces, most underground. Leasing for the building is at over 6% as of late January.
Seaboard Station has been primarily a retail-focused area of downtown but will see a jump in residential units with this development.
“Overall we’re excited about it,” said Bill King, CEO and president of Downtown Raleigh Alliance. “It’s good to see another portion of downtown add some density. I think it’s a good thing to have that many units as well. It’s helpful. Overall downtown has about 2,000 units under construction.”
The Signal includes a two-story fitness center, two courtyards and a 9,000-square-foot “interior amenity space” with a coworking lounge, meeting space and “entertaining kitchen with dedicated wine lounge and fire place,” according to Hoffman & Associates.
Seaboard Station development and construction
The Seaboard Station development is wedged between William Peace University and the future Smoky Hollow Park, previously called the Devereux Meadow park project. The park’s development and $13.5 million price tag were approved by voters in 2022 with the successful passage of the city’s $275 million parks bond.
Construction on the second phase began last year and will add another 279 units over two seven-story buildings. The second phase will also include the recently announced 149-room Hyatt House hotel, more than 55,000 square feet of retail spacing and nearly 500 parking spaces.
The hotel will have a 4,100-square-foot rooftop bar and restaurant called High Rail, a 2,000-square-foot outdoor terrace, a courtyard pool with a nearby bar and restaurant, a 24-hour gym and market.
“There’s not a whole lot of hotel opportunities up in that corner of downtown so (adding Hyatt) will be a good thing as well,” King said, adding it will be a chance to showcase some of the businesses in that part of downtown.
Some current businesses have expressed concern about the construction taking up nearby customer and employee parking.
“I know right now it’s probably fairly painful,” King said. “It’s certainly a big construction site. So I know that some of the existing businesses are probably working through the pain points a bit of reduced parking temporarily while the construction happens. But my hope is that once it’s finished, it’ll add a lot more customers.”
Details about the third phase have still not been released, according to the development team.
The Seaboard Station development is next to the historic Seaboard train station, owned by Turnbridge Equities. City leaders agreed to rezone the property, along Semart Drive, to allow up to 20 stories and to preserve the historic train station after neighbors rallied to its defense.
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This story was originally published February 3, 2023 at 6:00 AM with the headline "Northern part of downtown Raleigh grows denser and taller at Seaboard Station."
