Bringing The World Home To You

© 2021 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton
Play Live Radio
Next Up:
Available On Air Stations

William Peace Makes $21 Million Offer For Seaboard Station

Seaboard Station building in Raleigh
Jmturner, public domain

William Peace University in Raleigh is using nearly two thirds of its endowment to buy out an adjacent shopping center.  The school submitted the offer worth nearly $21 million last week for the Seaboard Station retail center.  The owner of the downtown shopping center filed for bankruptcy more than a year ago. 

Peace president Debra Townsley says the move will make the university more attractive to those considering enrollment."We know what surrounds a campus is critical to families' choice for their students and it's also critical to employees in deciding where to work," Townsley says. "It's a part of being in the general community, as well."

Townsley says she and the rest of the school's Board of Trustees believe the investment will quickly return a profit.  The deal still needs approval from a local court.  The property will be sold at auction if other buyers make a higher bid.  Tenants of Seaboard Station could not be reached for comment.

Related Stories
More Stories