Conan McClain, a partner with Seaboard Station owner Gregory & Parker, says the company's bankruptcy filing last week won't affect business at the retail center near William Peace University.

"I really can't comment about the situation other than to say that the Seaboard development and all of its tenants are fine," he said in an email. "It's business as usual."

Gregory & Parker and Gregory & Parker Seaboard LLC, which owns the roughly 85,000 square foot center, filed for bankruptcy last week.

Gregory & Parker listed estimated assets of between $100,000 and $500,000 and liabilities of between $10 million and $50 million. The Seaboard entity listed estimated assets of $50,000 or less and liabilities of between $10 million and $50 million.

Gregory & Parker borrowed $3.85 million from Georgia Capital between 2009 and 2011, according to Wake County property records. The seaboard property was put up as collateral for the loans.

Georgia Capital appointed a substitute trustee over the property in October, a move that often is a precursor to instigating foreclosure proceedings against a borrower.

Tyler's Taproom, a Triangle restaurant with an extensive beer selection brewpub with locations in Carrboro, Apex and Durham, is expanding into downtown Raleigh.

Construction has started in the 10,500-square-foot space in Seaboard Station that occupied Tookie's Grill and was originally intended for Red's Beach Music Club. Originally, Tyler's was only going to occupy the Red's space but when Tookie's closed, the owner decided to take that space as well, which already included a kitchen.

Ted Van Dyk of New City Design Group said they hope to be open by September or October. He added that the space will include a 50-feet outdoor deck with an outdoor bar offering a view of downtown Raleigh.

In a press release, owner Tyler Huntington said, "We are excited about finally making our Raleigh location a reality. It took a while to get all of the pieces together, but the wait has been worth it.  In the end we will have more space, room for private events, and a great patio area."

Tyler’s Taproom, which signed a lease in downtown Raleigh's Seaboard Station before the economic downturn took hold, now expects to open the restaurant this fall.

Construction has begun on the more than 10,00-square-foot restaurant, which will include the space previously occupied by Tookie's Grill.

The restaurant will also feature an outdoor deck and bar facing Peace Street.
 
“We are excited about finally making our Raleigh location a reality,” Tyler Huntington, president of Tyler's restaurants, said in a release.  “It took a while to get all of the pieces together, but the wait has been worth it. In the end we will have more space, room for private events, and a great patio area.”

This will be the fourth Tyler's in the Triangle.

The others are located in downtown Durham's American Tobacco Campus, in downtown Carrboro and at Beaver Creek Crossings in Apex.

Construction on the new space is expected to be completed this fall.

The owner of a key building in the Seaboard area north of downtown expects to begin converting the property into a small retail center by the end of the year.

St. Mary’s Associates, the partnership that owns the one-story building at 111 Seaboard Ave., has pre-leased more than half the 15,000 square feet planned for the center, said Settle Dockery, project director for York Ventures and a partner with St. Mary’s.

The renovated building will have a half dozen or more storefronts facing north towards Seaboard Ave., Dockery said.

“It’ll take an ugly building and make it pretty,” he said. “We’ve still got a ways to go but I think we’ve got our direction down.”

Raleigh's O2 Fitness has purchased Seaboard Fitness and is making the location into its eighth fitness center.

Located at 802 Seamart Drive in Raleigh's Seaboard Station, the gym will offer the club's existing members a discounted upgrade to a network access membership, which allows them to work out at any of O2's locations. Any time that members have already paid for will be honored.

O2 operates two other locations in Raleigh, plus clubs in Chapel Hill, Cary, Fuquay-Varina and Wilmington.

The Seaboard facility will offer more than 50 group classes weekly and will also receive upgraded cardio equipment. As a grand opening special, the club is offering $1 enrollment and two free personal training sessions for new members in the month of January.

Don't forget to take part in the America Recycles Day celebration at the Shops at Seaboard Station next Saturday.