New Affordable Housing Units Open in Knoxville, Expanding Access to Quality Living Options

KNOXVILLE, TN – New Affordable Housing Units Open Near Downtown

On August 29, 2024, Knoxville saw **a significant step forward in affordable housing** as the second phase of First Creek at Austin officially opened its doors. This new development marks a vital addition to the community, providing 180 new apartment units on the edge of downtown.

The ribbon-cutting ceremony was conducted by the Knoxville Community Development Corporation (KCDC), celebrating the unveiling of a mixed-income, affordable housing community. These new apartments vary in size, offering one to three-bedroom options to cater to diverse living arrangements.

Rental Prices and Amenities

For those looking to move into First Creek at Austin, the rent will vary based on income qualifications. Without assistance, a one-bedroom apartment will cost about **$1,300 per month** while a two-bedroom unit will be priced at **$1,560**. It’s also worth noting that the rental price includes essential services like trash collection, parking, and water and sewer costs.

Community Benefits

KCDC’s Executive Director Ben Bentley highlighted that First Creek at Austin has fostered a **diverse community** that is conveniently located within walking distance to schools, public transport, downtown amenities, and the soon-to-open multi-use stadium. This area is designed to nurture a **vibrant and connected urban environment**.

Funding and Development Progress

Phase 2 of the development was largely funded through **$19.6 million in low-income housing tax credits** from the Tennessee Housing Development Agency. These credits provide a tax relief initiative for owners and investors in low-income rental housing, thus enabling the project to come to fruition. Phase 1 of this initiative opened in 2022, featuring 105 units.

As part of the overall plan, KCDC has broken ground on the third phase of First Creek, which started on August 1, 2024. This upcoming phase aims to add **161 new housing units** to the array, including **50 units specifically designed for low-income seniors** aged 62 and older.

History and Future Plans

The vision for this housing development first emerged in 2019, spearheaded by KCDC in engagement with local community members to forge a comprehensive master plan. When completed, the entire First Creek at Austin project will encompass around **430 units** spread across three distinct phases. The development is situated on the site of what was formerly known as Austin Homes, a public housing area established in 1941.

Individuals interested in applying for residency at First Creek at Austin can find more information and application details at their official website, Firstcreekliving.com. This community is just one of several affordable housing projects in progress in Knoxville, underscoring the city’s commitment to resolving housing concerns through the **Affordable Housing Fund**, a $50 million initiative aimed at enhancing affordable living options over a decade.

The opening of Phase 2 at First Creek at Austin marks a crucial milestone in **Knoxville’s journey towards increased affordable housing**. As the city continues to grow, these initiatives reflect an ongoing effort to ensure that more residents can find suitable, quality housing within their means.