PN Hoffman Expands To Raleigh With $250M Project
This project will be the start of several new developments in the Raleigh-Durham area, according to Monty Hoffman.
WASHINGTON, DC–PN Hoffman, developer of many urban communities in the area including most notably The Wharf, has expanded into Raleigh, NC with the opening of a new office and the purchase of Seaboard Station in the north end of the city’s downtown. The developer was selected by William Peace University and TradeMark Properties to redevelop Seaboard Station into a $250 million, 800,000 square foot mixed-use project at full build out.
Monty Hoffman, Founder and CEO of PN Hoffman, said that local developer, John Florian of the Florian Cos. “and friend for over 30 years” joined the company to help run its new North Carolina office. “This will be the start of several new developments in the Raleigh-Durham area,” Hoffman also said.
Seaboard Station
The project’s approximate 800,000 square feet of mixed-use space will consist of ground-level retail, multi-family residential and hotel uses. These will include:
- 650 apartments
- 150 hotel keys
- 90,000 square feet of new retail space and a total of 135,000 square feet of retail space at full build-out
William Peace University purchased Seaboard Station in 2013 as a strategic investment to enhance the local community surrounding the University. Since there has been a resurgence of the north end of downtown Raleigh and by March of this year William Peace University, represented by TradeMark Properties, announced it was seeking a buyer and partner for the nearly seven-acre Seaboard Station site.
PN Hoffman’s offer was selected from among 13 offers received by the University.