Peace reaches agreement to buy Seaboard Station - WJBF-TV ABC 6 Augusta-Aiken News, Weather, Sports

Peace reaches agreement to buy Seaboard Station

Posted: Updated:
RALEIGH, N.C. -

William Peace University has reached a purchase agreement for Seaboard Station, it confirmed Friday night.

In an email at 6:33 p.m., the school said it had "just signed" the agreement. The school said the purchase "is subject to court approval."

The area, which is right next to Peace in downtown Raleigh, includes thriving shops, but court filings show landlords Gregory and ParkerLLC owe more than $2 million to various creditors.

Gregory and Parker has been under Chapter 11 of the U.S. Bankruptcy Code for more than a year working on a corporate restructure plan.
Peace's interest in the property has concerned some downtown.

"This could go from what's become a very vibrant retail center in downtown to a parking lot," City Councilor Mary Ann Baldwin said. "We need apartments. We need the retail to flourish and grow."

But Peace President Debra Townsley has said neighbors' fears are just a misunderstanding. She says Peace does want to purchase the land, but wants to keep the retail space.

"Students like to have a campus where there's places to eat, places to shop," Townsley said this spring.

  • Trending StoriesTrending StoriesMore>>

  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • Man charged with killing UNC professor had just left Wake Jail

    Man charged with killing UNC professor had just left Wake Jail

    Friday, July 25 2014 7:14 PM EDT2014-07-25 23:14:57 GMT
    Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
  • DOT fixes sign for new 485 flyover that spelled Pineville wrong

    DOT fixes sign for new 485 flyover that spelled Pineville wrong

    Friday, July 25 2014 1:40 PM EDT2014-07-25 17:40:30 GMT
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
Powered by WorldNow

1336 Augusta West Parkway
Augusta, GA 30909

Telephone: 706.722.6664
Email: talkback6@wjbf.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.