Knightdale Station homes will surpass Knightdale’s average home price

mhankerson@newsobserver.comJanuary 3, 2014 

— 2014 is looking to be a big year for Knightdale, with completion and start dates for phases of major development projects, like Knightdale Station.

The 835-home subdivision would be the largest in the town and could increase the median cost of Knightdale housing. The development will also include a YMCA and an elementary school branch of the Triangle-based private school system, Thales Academy.

Homes in Knightdale Station are supposed to begin going up in March. All homes in the division will be at least 1,600 square feet.

75 percent of the homes will be 1,850 square feet and 25 percent of the homes will be more than 2,000 square feet.

In September, Karl Blackley of Preston Development, the company planning Knightdale Station, said most of the homes will cost in the low to mid-$200s, but that could change depending on what builder the company chooses.

Right now, Preston hasn’t settled on a builder, said Preston’s vice president of finance Thad Moore.

Giving people what they want

Knightdale Station, while increasing the number and average price of the town’s housing stock, is also one way the town can attract more residents.

In the first phase of Knightdale’s branding project, the company handling the process, North Star Destination Strategies, found that 13.7 percent of people surveyed (which included Knightdale and other Wake County residents) said the town is missing out on high-end real estate options.

Those surveyed appreciated the affordability of what is already there, but many said Knightdale would have a better chance of attracting more residents if there were some more expensive housing options.

According to data gathered by the U.S. Census, Knightdale’s median value of owner-occupied housing is currently $170,900.

The Census’s data does not factor rental properties into the median price.

Knightdale Station’s prices would be on par with Wake County’s median home price, which is $230,400, almost $80,000 higher than the statewide median, at $153,600.

Hankerson: 919-829-4826; Twitter: @easternwakenews

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