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Wake Forest approves land swap with Southeastern Baptist Theological Seminary to secure park parking parcel
Summary
The Wake Forest Board voted unanimously to exchange town-owned land at 214 S. College Street for a slightly larger collection of parcels owned by Southeastern Baptist Theological Seminary, giving the town ownership of parking adjacent to Holding Park and giving the seminary contiguous land near its campus.
The Wake Forest Board of Commissioners approved a property exchange with the Southeastern Baptist Theological Seminary that gives the town ownership of parking adjacent to Holding Park and gives the seminary a larger contiguous parcel near campus.
Assistant Town Manager Candace Davis told the board: "The North Carolina General Statutes chapter 160A-271 allows the town to allows a town and a private entity to swap real property for a full and fair consideration." Davis said the town planned to swap 0.8 acres at 214 South College Street (valued at $670,000) for a collection of seminary-owned parcels totaling 1.0081 acres (valued at $790,000). She said both parties would finalize the property-exchange agreement after the vote, conduct any needed surveys and close on or before Sept. 30.
Ryan Hutchinson, executive vice president of Southeastern Seminary, said the seminary had informal use for the town parking parcel and had approached the town in May 2024 about a swap. "We do not have any particular plans to change this from anything other than the, kind of open space that it currently is," Hutchinson said, adding the seminary seeks contiguous property to guide future campus-consistent development.
Earlier in the meeting, resident David Bissett, whose family home is in historic downtown Wake Forest, said he had received town notice of a proposed property transfer and asked the board for assurances that any changes would not negatively affect his property, business or values and asked to be kept informed. "I got a, got an email from the town that said that you would be trading properties with the seminary," Bissett said during public comment.
Board members confirmed that acquiring the parking parcel gives the town formal ownership for Holding Park users and that any future changes or improvements to either parcel would require separate board approval through standard planning and permitting reviews. After a motion and second, the exchange passed by unanimous voice vote.
