Affordable Housing Initiative Breaks Ground with 180 New Units in Knoxville

KNOXVILLE, TN – Affordable Housing Expands with New Units

On August 29, 2024, knoxville welcomed the opening of Phase 2 of First Creek at Austin, a significant development aimed at providing more affordable housing in the area. This latest phase adds 180 new apartments to the existing community, which is already making strides in offering diverse, mixed-income living options just on the edge of downtown.

Inside First Creek at Austin

The new apartments include a variety of **one-, two-, and three-bedroom units** designed to meet the needs of different families and individuals. The rent is structured to accommodate various income levels. For instance, without income assistance, a one-bedroom apartment will cost around $1,300 per month, while a two-bedroom unit is priced at approximately $1,560. These rates also cover essential utilities, including trash, parking, and water and sewer.

A Vision for Community Living

According to the KCDC Executive Director, Ben Bentley, First Creek at Austin is more than just a housing complex; it’s a community. “This project has created a diverse community within walking distance of schools, downtown, and other important amenities,” Bentley said. He emphasized that there is a “true sense of community” being fostered throughout this vibrant area.

Funding and Future Phases

The construction of the new phase was largely funded through $19.6 million in low-income housing tax credits from the Tennessee Housing Development Agency. These credits provide financial incentives for investors in low-income rental housing, effectively supporting the affordability aspect of this development.

Phase 1 of First Creek at Austin was completed in 2022 and featured 105 units in total, with some in a large multifamily building and others in smaller structures across the property. Now, with this newest phase, the total number of units increases significantly, bringing the community closer to its goal of about 430 units planned over several phases.

Looking Ahead

Ground was broken for Phase 3 of the development on August 1, 2024. This upcoming phase will introduce another 161 housing units, 50 of which are dedicated specifically for low-income seniors. This commitment to developing housing options for the elderly further emphasizes the inclusive vision behind First Creek at Austin.

The entire project began in 2019 when KCDC engaged with local residents to create a master plan for what the site could become. The development occupies the former site of Austin Homes, a public housing community that has been a part of Knoxville since 1941.

How to Apply

For those interested in making First Creek at Austin their home, potential residents can apply through the community’s official website, Firstcreekliving.com. This housing community is part of a broader effort in Knoxville to boost affordable housing availability, supported by the city’s $50 million Affordable Housing Fund, a commitment over ten years to promote the construction and preservation of affordable living spaces.

As more residents move into First Creek at Austin, it is clear that Knoxville is taking steps to create accessible and affordable living solutions for its community. With smart planning and intentional design, this housing development is set to become a cornerstone of urban life in the city, making a lasting impact on the lives of many.