Knightdale Station, an 835-home subdivision, is ready to begin construction after its groundbreaking ceremony on June 4th. Preston Development Co. began acquiring the 300-acre property in 2005, and have recently hired three Fayetteville-based builders to construct the first 128 homes.
Plans for Knightdale Station include a new branch location and aquatic center for YMCA of the Triangle and a new elementary school for Thales Academy. Preston Development is donating 8.5 acres to the YMCA and paying for construction of the new pool, restrooms, and offices. The town of Knightdale will allow the YMCA to use a nearly soccer field that it owns. Doug MCMillan, CEO of the YMCA of the Triangle, said the pool, a sports plan, and a day camp should be in place by the start of summer 2015.
Knightdale Station is located on U.S. 64 near the 76-acre Knightdale Station Park, which opened its first phase in September 2013. The park features a farm and train-themed playground, dog park, measured walking/running trails, and athletic fields. Construction is underway for tennis courts, an amphitheater, farmer’s market, and an arboretum as well.
When completed, Knightdale Station will be the largest subdivision in the town and will increase the median cost of Knightdale housing. “We hope to start with pricing around $250,000 to $350,000,” said Karl Blackley, president of Preston Development, placing Knightdale Station’s prices slightly higher than Wake County’s median home price of $230,400.
Knightdale Mayor Russell Killen hopes the new, high-end real estate options will bring more young professionals to the area. “That’s where you want to be from an economic standpoint,” he said. According to Killen, the town plans to invest a total of about $12 million into the development project.