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180 new units open at affordable housing development near Downtown Knoxville
By Hannah Moore,
2 days ago
KNOXVILLE, Tenn. (WATE) — 180 new units are open at Knoxville’s first mixed-income, affordable housing community.
Knoxville’s Community Development Corporation cut the ribbon for Phase 2 of First Creek at Austin , a mixed-income, affordable housing community on the edge of downtown, on August 29. The new 180 apartments include one- to three-bedroom units.
Rent on the apartments will depend on whether or not the resident qualifies for an income-based assistance program, however, their website lists that a one-bedroom apartment will be $1,300 a month and $1,560 for a two-bedroom without assistance. Trash, parking and water sewer will also be included in the rent.
“First Creek at Austin has created a diverse community within walking distance of schools, downtown and the Old City, the soon-to-open new multi-use stadium and other nearby amenities and opportunities,” KCDC Executive Director and CEO Ben Bentley said. “A true sense of community is being established in a vibrant, connected urban area.”
Second phase of First Creek at Austin (Photo via KCDC)
Inside an apartment in the second phase of First Creek at Austin (Photo via KCDC)
Inside an apartment in the second phase of First Creek at Austin (Photo via KCDC)
Inside an apartment in the second phase of First Creek at Austin (Photo via KCDC)
Inside an apartment in the second phase of First Creek at Austin (Photo via KCDC)
Inside an apartment in the second phase of First Creek at Austin (Photo via KCDC)
Second phase of First Creek at Austin (Photo via KCDC)
Community space in the second phase of First Creek at Austin (Photo via KCDC)
Construction for Phase 2 was primarily funded through $19.6 million of low-income housing tax credits from the Tennessee Housing Development Agency. This is “a credit against federal income tax liability each year for 10 years for owners and investors in low-income rental housing” according to KCDC.
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