RALEIGH, N.C. (WNCN) — Developers on Friday unveiled plans for the latest expansion of a nearly $500 million shopping and residential area near downtown Raleigh.

The latest plans for Seaboard Station include two new apartment buildings of nearly 280 units and a nearly 150-room hotel, according to a news release from Hoffman & Associates.

When it is complete, the entire Seaboard Station neighborhood will be home to 577 apartments. The Signal, which is in Phase 1, has 298 units and there will be two apartment residences in Phase 2 which will bring 279 units.

The next phase of Seaboard Station — which will cost nearly $200 million — also includes 55,000 square feet of shopping area. The development is located just north of downtown Raleigh near William Peace University.

Developers of the project have already said there will be a 20-story building on the site.

A meeting in September with developers and the Raleigh City Council will keep the historic Seaboard Train Station, for which the development is named.

The 20-story building is not a part of Hoffman & Associates development. That project is developed by Turnbridge and is what is being developed at the historic Seaboard Train Station location.

In photos released by Hoffman & Associates Friday, street-level dining and shopping were visible.

In the first phase of Seaboard Station, the new apartments will be called The Signal, which is a 298-unit residential apartment building of studio, one, two and three-bedroom units.

The news release Friday said there would be underground parking. The first phase, which is expected to open in early 2023, will feature a retail area with more than 18,000 square feet of outdoor seating and cafe terraces.