News Summary
Knoxville unveils the Riverside at Holston, a new housing community with 96 units aimed at providing affordable living for families within certain income criteria. The development includes various amenities such as a clubhouse, playground, and fitness center, catering to both residents and their pets. The City of Knoxville has invested significantly in this project, underscoring its commitment to addressing the local housing crisis. Future projects are also planned to further improve affordable housing options in the area.
Exciting Developments in Knoxville: Riverside at Holston Housing Community Opens Its Doors
In a heartwarming effort to tackle the ongoing housing crisis, Knoxville has officially unveiled its latest project—Riverside at Holston. Located on River Willow Way, right by the scenic Holston River Park, this new community aims to provide quality housing for those in need.
A New Home for Many
Riverside at Holston offers an impressive total of 96 units, specifically designed to help individuals and families meeting certain income criteria. For potential residents, the good news is that those coming from households earning up to 80% of Knoxville’s Area Median Income are eligible! This means, for a family of two, the income cap is around $64,000 annually, while a family of five can qualify with an income of approximately $86,000. Isn’t that fantastic news for many looking for affordable living options?
Community Features that Impress
But wait, there’s more! Riverside at Holston isn’t just about offering a roof over people’s heads. The community comes equipped with several amenities to enhance residents’ lifestyles. Picture this: a welcoming clubhouse where you can hang out with neighbors, a fun playground for the kids, a business center for those working from home, and a fitness center to stay active! Plus, with on-site management, residents have peace of mind knowing assistance is just a call away.
And let’s not forget about our furry friends! Yes, pets are allowed in this vibrant community—though a $300 pet deposit is required, and all pets must be vaccinated, spayed, or neutered. It’s a win-win for both pet lovers and their four-legged companions!
Inclusive Housing Options
For tenants with housing vouchers, Riverside at Holston has you covered! Whether it’s Project-Based Vouchers or Section 8 Housing Choice Vouchers, everyone deserves their own space, and this development makes it happen.
When constructing such vital housing initiatives, the City of Knoxville played an important role, investing about $750,000 from its Affordable Rental Development Fund. This funding helps cover project costs and underscores the city’s commitment to ensuring residential options are available to those who need them most.
More to Come in Knoxville
If you think Riverside at Holston is the only exciting thing happening, think again! DGA Residential, the brains behind this project, also developed Lakeview at Westland in 2023, which introduced an additional 72 affordable housing units. And rumor has it that even more projects are lined up, including Bluegrass Landing with 47 units and Grosvenor Square featuring a whopping 184 units. With Knoxville facing a housing crisis, these developments are vital.
As city officials mention, there’s a pressing need for around 6,000 to 8,000 more housing units in Knoxville by 2029 to meet growing demand. This has never been more apparent, with more than 730 individuals experiencing homelessness in Knox County from April to June this year.
In addition to Riverside at Holston, plans are already in motion to invest $1.44 million in reserving 48 affordable units within a new private apartment complex called the Village at Inskip. This development aims to serve those with an income at or below 60% of Knoxville’s median income, which works out to roughly $54,600 for a family of four. This new development is expected to boast several amenities when it opens its doors in July 2026.
Looking Ahead
Knoxville leaders are clearly dedicated to improving housing access for all residents. As negotiations are underway for new projects focused on low-income housing, the collective aim is to provide shelter and support for those who need it most. With a recent survey also highlighting that 34% of homeless individuals cited affordability as a key barrier to stable housing, the community commitment is not just timely; it’s crucial.
The Knoxville Community Development Corporation (KCDC) is actively working on both the development of new projects and the management of existing affordable housing, such as the mixed-income affordable housing community known as First Creek at Austin, which recently expanded by adding 180 new units.
As Knoxville takes these enormous steps in addressing the housing crisis, it inspires hope for both individuals and families looking for a place to call home. The future looks bright for affordable housing in this vibrant community!
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Additional Resources
- WBIR: Riverside at Holston Cuts Ribbon
- Knox News: Knoxville Approves Funds for Inskip Apartments
- WATE: Developer Opens 96 Affordable Housing Units in Knoxville
- Google Search: affordable housing in Knoxville
- UT Daily Beacon: Knoxville Housing Crisis
- Wikipedia: Housing crisis
