Knoxville’s Affordable Housing Development Underway

Knoxville Begins Construction on Affordable Housing Development

Knoxville, TN – Last week, the city marked an important milestone in its efforts to address the ongoing affordable housing crisis by breaking ground on the third phase of First Creek at Austin. This development is located just a short walk from downtown, making it even more significant for those seeking affordable options.

A Brief History of First Creek at Austin

The growth of this community began over three years ago. In July 2021, plans were first announced for what would become a major affordable housing project to replace the old Austin Homes, which were torn down to facilitate the new construction. The project is spearheaded by the Knoxville Community Development Corporation (KCDC), an entity that operates as a branch of the city government.

Phase one of First Creek opened its doors in December 2021, featuring 110 homes at prices suitable for families earning between 30% to 80% of the average median income. To put that into perspective, this means individuals or families with incomes ranging from about $17,700 to $47,280 are eligible for these units. The demand for these homes was high, and they are now fully leased.

Progress on Future Phases

Currently, phase two is nearing completion and is set to start leasing this summer. This addition will provide 180 new homes, again aimed at the same income levels as phase one. These homes are expected to be ready for new residents by this December, with more than half already spoken for.

With the forthcoming completion of phases one and two, the total number of homes available at First Creek will approach 300. This is a significant increase from the previous layout, which saw approximately 120 homes lost when Austin Homes was demolished. It’s worth noting that families who were displaced by the demolition have been given priority in securing these new residences.

The Final Phase of Development

The latest phase, which recently broke ground, will introduce an additional 161 homes. Similar to the previous phases, it will cater to a wide range of lower and working-class income families. A noteworthy aspect of this final phase is that it will include 50 units specifically reserved for low-income seniors aged 62 and over.

Addressing the Housing Shortage

Knoxville has long faced challenges in affordable housing options, and many studies point to the lack of such homes as a key factor in rising homelessness. A vast number of families live on the brink of financial instability, and without sufficient housing options, the risk of becoming homeless looms large.

The First Creek development represents a proactive step towards improving the city’s housing stock. Once completed, it will add 450 or more new homes to the community, providing much-needed options for those in need. This is not the only initiative aimed at providing affordable housing in Knoxville, as other projects are also in various stages of development.

A Community Effort

It’s crucial to recognize the work that is being done to tackle the issue of inadequate housing. Through thoughtful planning and development, Knoxville is stepping up to meet the demand. Notably, downtown Knoxville encompasses a range of affordable and workforce housing units, making it accessible for more residents.

Few neighborhoods in the city provide a comparable number of low-income housing options within a short walking distance of downtown, where affordability is often scarce.

Conclusion

As Knoxville continues to grow, efforts like First Creek at Austin will be vital in ensuring that all community members have access to safe, affordable housing. This project embodies a step towards inclusivity and support for families from diverse backgrounds. The hope is that the city remains committed to providing homes for everyone who needs one, fostering a sense of community and belonging.