With so many great things happening in regards to the expansion and beautification of the town of Knightdale over the course of the past few years, including the development of the Knightdale Station new home community, it is obvious when one takes a look around town that Knightdale Commercial Growth numbers saw a dramatic increase during the calendar year of 2015.
Much as was reported a few months back with a noted increase across town in residential properties in 2015, the Knightdale Commercial Growth can be attributed to many different positive initiatives that have been going on. Also, the town’s positioning at the intersection of I-540 and the recently designated I-495 makes for a very desirable location for modern business.
With the residential numbers on a considerable upswing, businesses obviously see Knightdale as an area on the rise and a place where demand for their services would likewise be increased. Thus, as can be seen on the chart shown above, there was a notable increase in the number of commercial permits applied for in 2015 as opposed to the year prior, as these numbers rose from 51 to 70 during this time period. Even more dramatic was the staggering increase in Knightdale Commercial Growth where it pertains to commercial construction value. This number rose from $3.1 million in 2014 to $16.4 million in 2015.
Speaking to the notable rise in both residential and Knightdale Commercial Growth was the town’s Development Services Director, Chris Hills. “These numbers are some of the best we’ve seen since before the recession,” Hills explained. “We’re seeing the market respond to policies put into place by our Mayor and Council. The new amenities, such as Knightdale Station Park and Mingo Creek Trail, are also helping us create an attractive place for residents and businesses to invest.”
Included projects in the $16.4 million spent on Knightdale Commercial Growth during 2015 of note are the town’s new Hampton Inn in addition to several large industrial buildings in the new Hinton Oaks Business Park.
(Chart and image at top courtesy of the Town of Knightdale)