- Faculty and staff moved into the new college of business building, opened in 1990. The 130,000 square-foot, four-story building is in the middle of the Appalachian's campus. It was named and dedicated in honor of Thelma C. Raley in 1993. Thelma Raley realized a lifelong ambition when she completed her studies and received a Bachelor's degree in English from Appalachian in December 1992 at the age of 80. She made a substantial financial commitment to the Walker College of Business. At the time of its completion, Peacock Hall received the 1990 Architectural Brick Award from the Brick Association of North Carolina. The building was cited for the use of different colors of brick, for a design that breaks up the mass of the building without dwarfing neighboring buildings, its curved glass block wall and its pedestrian access.
Bill and Thelma Raley (center), friends of the Walker College, stand between Associate Dean Ken Peacock and his wife, Rosanne. - In June 2014, Raley Hall would be renamed Peacock Hall in honor of Appalachian's sixth Chancellor Kenneth E. Peacock at the urging of the Raley family and members of university leadership boards.
- Solar-powered, smart picnic tables were installed on Peacock Hall’s first-floor patio in 2018, providing extra form and function for learners on campus.