Seaboard Station

[ChiefJoJo]

Seaboard Station with Ace Hardware, Seabord Fitness, and Capital Grocery and DT in the background.

I don't need a hardware store a lot, but it's nice to see that very soon I will be able to ride my bike to a local store instead having to drive to the massive big boxes.

[ChiefJoJo]

More tidbits from Kris Larson of the UDC:

The Ace Hardware is a coup for Raleigh. Usually downtowns don't get a hardware store unil they have ~25k population.

Also the Capital Grocery has been bought or the previous ownership group is partnering with a new investor and they are targeting the stock for the downtown crowd... also there is a board of directors that will track the stock to make sure it fits what the local marketplace desires. Good news for the re-opening.

[RaleighRob]

^A board of directors to make sure the stock fits the local market is a very smart move. Almost a step or two away from what a co-op would do.

[yoga]

Cap City Grocery posted a couple of ads yesterday on CraigsList for a Grocery Department Manager and a Meat & Seafood Dept. Manager.

[yoga]

Ok I know you guys will think I'm obssessed, but I can't help it that we overlook Logan's etc from our living room and happen to have a pair of binoculars.

There's a big truck loaded with gyp board parked at CCG's loading dock this morning. So between that and the CraigsList ads maybe they really will reopen and not get sucked into the black hole vortex of Businesses Gone Bad.

Lemme know if anyone needs any other molecular details or hourly reports.

[Beth Y]

FYI - the following is on City Council consent agenda for tomorrow's Council meeting:

3. Loan Modification for Gregory & Parker-Seaboard, LLC

Approximately one year ago, City Council loaned $300,000 to Gregory & Parker-Seaboard, LLC for their tenant, the Capital City Grocery located at 5 West Franklin Street, Raleigh, North Carolina.

City Administration received a request for loan modification to the original agreement that would release the equipment and fixtures in the store used as partial collateral for the loan. In addition to the equipment and fixtures, the City also maintained a junior deed of trust on the real property where the store is located referred to as 5 West Franklin Street Building #3. Based on appraisals, Building #3 is worth $4,000,000 and has $2,700,000 in debt leaving $1,297,000 in equity that provides more than enough coverage for the loan of $300,000.

Administration also suggests a modification to the repayment terms of the loan. The current loan balance is $300,000. Administration recommends a modification to allow a loan rate 2% below prime that at the current prime rate of 7.25% would be 5.25% to the borrower. It is further suggested that the loan be amortized over 20 years with a balloon payment at the end of five years.

Recommendation:

Authorize modification of the loan to Gregory & Parker-Seaboard, LLC releasing the equipment, fixed assets, and maintaining a junior deed to 5 West Franklin Street Building #3.

[urbanvb]

There is an article is today's Observer about Capital City Grocery.

link

[RaleighRob]

I hope Mr. Weems is successful getting it back to running!

From the article: Weems insisted Tuesday that a downtown grocery store can be successful and blamed a bad product mix for stunting the store.

That's what folks on this board have been saying since it opened. Glad someone figured it out.

[Eugene]

Was at Seaboard Ace Hardware this weekend and saw a coming soon sign for "Peace China" on the storefront two down from Ace. The tag below said something like "a healthy alternative to chinese take-out - coming September 2007." I'm all for another Chinese take-out option downtown - and one I can walk to is a bonus.

[RaleighRob]

Another update article on Capital City Grocery. Apparently reopening in June: http://raleighchronicle.com/2007052208.html

[pack-man]

the previous owner of this grocery store failed down at the beach where my parents live. this guy doesn't have a good track record with grocery stores. i'm glad to hear that he is out of the picture.

this is by no means a way to indicate whether a grocery store will be successful downtown. the location of CCG is terrible. not knocking the peace street area, but you're directly competing with HT in Cameron Village...good luck. if this grocery store opened up DT by Progress Energy, it would succeed w/o question. i hope CCG will succeed in its current location. i think in time, that will end up being a solid location.

[suburban george3]

the previous owner of this grocery store failed down at the beach where my parents live. this guy doesn't have a good track record with grocery stores. i'm glad to hear that he is out of the picture.

this is by no means a way to indicate whether a grocery store will be successful downtown. the location of CCG is terrible. not knocking the peace street area, but you're directly competing with HT in Cameron Village...good luck. if this grocery store opened up DT by Progress Energy, it would succeed w/o question. i hope CCG will succeed in its current location. i think in time, that will end up being a solid location.

Supposedly, the form location 'Atlantic Coast Market' was sold out to a restaurant that 'absolutely' wanted the building.

While the facility for CCG is nice, I think it's doomed to failure for a while. The HT in Cameron is one reason, the other being the lack of dense residential at that location. Not facing the main road hurts as well. I think an investor we be better served by revamping the space and tasking it for other uses.

[Jones_]

Both Newtons and Hardees parcel were for sale in the last few years. That combined lot would have been a nice spot and deliveries would have been easy from Seaboard Ave. While I am all for reusing existing buildings and Sunflowers did a great job with teh old Hardees, the site stil lfeels underutilized. Not to Mention that Peace using Newtons lot for a sign.....

[ncwebguy]

Has anyone heard anything about Capital City Grocery lately? Their website still says "coming soon" but they were supposed to reopen "in June".

I haven't been over there in weeks, but have noticed activity at Tookies from Peace Street. I don't think it is "we're open" activity, but kitchen/seating installation, etc.

[tjoad]

Has anyone heard anything about Capital City Grocery lately? Their website still says "coming soon" but they were supposed to reopen "in June".

I haven't been over there in weeks, but have noticed activity at Tookies from Peace Street. I don't think it is "we're open" activity, but kitchen/seating installation, etc.

I saw this recent post (6/21) on raleighing:

I am one of the new owners of Capital City Grocery and am currently charged with finalizing the upfit of the space. I wanted to give everyone an idea of where we are and when we will be open.

Per usual the construction phase is taking longer than we expected but we are committed to getting everything in place before we re-open. It is our expectation that this will take another three weeks and we will do our best to hit this target.

As far as the store goes I could not be more excited, our goal is to make this a community store and are working towards designing our store around the feedback we have received from the community. To that end we have increased the produce section, changed the wine section, added self serve meat cases, updated the coffee bar, added a sushi chef, salad bar, and hot bar and are working with as many local suppliers as we can to get fresh local products in the store.

We are a locally owned and operated store that wants to utilize the tremendous resources we have in our community from farmers to suppliers and everyone in between.

If anyone is interested in seeing the progress we have made or has questions or suggestions please feel free to stop by the store for a tour.

Mason

I am very much looking forward to this store part deux.

[RaleighRob]

According to the N&O, Capital City Grocery is reopening today: http://www.newsobserver.com/business/nc/st...ory/637010.html

So I guess this is our second chance. I hope to check it out in the next couple of days. Hopefully this time it's around to stay. (Fingers crossed.)

[Jones_]

I stopped in today and ate lunch. It has signs up inside apoligizing for not having everything completely in place yet but it was very busy....3 registers open. There is a salad bar now and a hot bar...smallish but the food was good (I ate well all vegetarian Rob ). The coffee bar is bigger too. I talked with the head of the invester group...he was on the floor overseeing things....they will be serving wine by the glass and getting a bunch of indoor seating, getting alot of organic and specialty stuff...I was happy to find Nantucket Nectars All in all it does not feel very different inside but I think the owners are eager to show us what they have coming in teh next few days and weeks.

[uptownliving]

Is the grocery store open on Sundays? I was thinking about walking down there for a late breakfast/early lunch on Sunday...but it was so hot I didnt want to walk all that way to find out it was closed. I checked their website and it didn't have any hours listed on there.

[DanRNC]

The Raleigh Chronicle has a little photo montage of Seaboard Station. I need to get down there and check this development out as have wanted to try J. Betski's for awhile.

Article

[Jones_]

The Raleigh Chronicle has a little photo montage of Seaboard Station. I need to get down there and check this development out as have wanted to try J. Betski's for awhile.

Article

Try a Saturday Afternoon.....the combined effect of Ace and Logans makes for a busy area....add in Red Pin, Seaboard Imports, Galatea, the place beside Galatea the art gallery and there is a good bit more to check out than just four restaurants and a grocery store.....it really needs 111 Seaboard condos and the aprtments behind Ace to round out the uses though.....also check out Pilot Mill Vilage and the restored Pilot Mill itself(if you never have)....the village is a good example of new construction in proper urban form and the Mill restoration is as well done as American Tobacco it just doesn't have any commercial space.....shoot, check out what teh ruckus was about with the extreme makeover house while you are over there....

Edited July 17, 2007 by Jones133

[capitalapts]

Is the grocery store open on Sundays? I was thinking about walking down there for a late breakfast/early lunch on Sunday...but it was so hot I didnt want to walk all that way to find out it was closed. I checked their website and it didn't have any hours listed on there.

yep, it's open on Sundays, I went by this past Sunday for some breakfast ingredients.

Quick review of the redone grocery store: it's much better. The stock is much more diverse and I find myself wanting for less things when I go. But, you have to keep in mind that this place will never be a SUPERmarket in the Kroger/Harris Teeter mold. The produce section is bigger than it was previously. As Jones posted, there is a salad and hot bar now, and yesterday for lunch they had curry chicken and basmati rice that smelled great. There are also still sandwiches made to order, and now there is a little sushi kiosk with adjacent pre-made sushi displays. The owner is very engaging and he said that they are going to start having wine and beer by the glass from 4-8PM (a grocery bar? hmmmm....). Beer and wine selection has been buffetted. The meat counter remains very good. On a scale of 1-100, I'd give the previous version of the store a 70-75, and this one is probably around 85-90. A marked improvement.

If anyone lives/works downtown, please come by and support this place. It's the closest spot for me to get beer and it sucked when it was closed!

[Beth Y]

Is Betski's getting outside seating now? I saw some tables out there the other day when I stopped in the grocery.

[JeffC]

How expensive is the hot bar for lunch? As expensive as Whole Foods? (love their stuff, but can never get out of there for less than $9-10...)

[Jones_]

How expensive is the hot bar for lunch? As expensive as Whole Foods? (love their stuff, but can never get out of there for less than $9-10...)

5.99 a lb.....can't remember if whole foods is 5.99 or 6.99....th trick is to let the juicy crud drain out and remember things like mashed potatoes cost more than say a chicken breast using the weight system....

[NewRaleigh]

I think it is so weird that Logan's isnt open on Sunday- I can't imagine how much business they give to the big Home Improvment stores..