With the addition of new industry and business coming into town and the opening of Knightdale’s largest master planned community, Knightdale Station, in the fall, it comes as no surprise that when the end of the year numbers for 2015 were tallied that the numbers showed Knightdale Residential Growth continuing at a record setting pace for the town.
While Knightdale Residential Growth has seen an upward trend for some time, the increase in numbers from 2014 to 2015 was one that was even more dramatic than the steady climb the town has seen in years previous. An example of the huge jump in 2015 in Knightdale Residential Growth would be the 59 percent increase in permits given out for single family homes in 2015 versus the year previous. This saw developers apply for 215 new home permits in Knightdale last year as opposed to just 135 in 2014. Likewise, the “value of improvement” was another increase that was seen in Knightdale Residential Growth, as the average value of a new Knightdale home in 2014 was $191,689, where as in 2015 that number jumped over $10,000 per unit to an average of $204,080.
The Town’s Development Service Director, Chris Hills spoke of the Knightdale Residential Growth, pointing to some incredible new amenities as one of the reasons for the larger increase this year. “These numbers are some of the best we’ve seen since before the recession,” he noted. “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.”
The numbers for Knightdale Residential Growth weren’t the only ones that saw a significant spike, however, as the town was also pleased to see commercial investments on the upswing as well. In the calendar year of 2015, it was noted that developers spent over $16 million on new commercial property in Knightdale. By comparison, this number was over five times the figure from 2014, as commercial investment in the town in 2014 was only around the $3 million mark.
Summing up the impressive increase in both commercial investments and in Knightdale Residential Growth, Mayor, James Roberson stated, “We believe Knightdale provides both a healthy business environment and a desirable place to live.”
To see more on new businesses coming to Knightdale, visit the town’s official website at knightdalenc.gov. If interested in some of the most beautiful residential properties, including ready to move in homes or sites to build on in the town’s largest master planned community, Knightdale Station, you can view these options at knightdalestation.com