$300 million development of Seaboard Station underway in downtown Raleigh

RALEIGH (WTVD) -- Downtown Raleigh is making way for the first phase of the $300 million development of the Seaboard Station.

The new development will house more than 600 residents in three buildings and more than 130,000 square feet of retail space including entertainment, street-level retail, restaurants and a hotel. For those who fear the establishment will bring unnecessary traffic to the area, Seaboard Station is equipped with underground parking.

The building that used to house 18 Seaboard near William Peace University has now been demolished as well as the nearby Sunflower Cafe.

"I mean obviously we know that Raleigh is having a very strong rental market in general, so I don't think that this is overbuilding for the area at all," said Ivan Colesnic, a Raleigh resident who frequents the area.

The D.C.-based company behind the development, Hoffman and Associates, has also constructed many areas in the nation's capital including the Wharf on the Waterfront.

"We are excited to honor the legacy of this historic location with a design that will contribute to this vibrant community, making it a destination for downtown Raleigh, surrounding neighborhoods and the region," said John Florian, Executive Vice President of Development for Hoffman & Associates.

Development officials said surrounding businesses such as will remain open during its construction.

For more details on the development, check here.