Knoxville breaks ground on city-sponsored affordable housing

Officials with the city of Knoxville broke ground on 80 units of affordable rental housing being built by Partners Construction and Southeast Capitol LLC as part of a $2 million investment from the city’s Affordable Rental Development Fund. Through the program, the new housing on Asheville Highway will be constructed and rents will be kept affordable for low-income residents for at least 30 years. The fund was created in December 2017 as part of a community-wide need for affordable rental housing in the city. By the end of 2021, the program made 288 units of affordable rental housing available to qualifying low-to-moderate income households. According to the U.S. Census, more than half of Knoxville renters pay more than 30% of their income on rent – not including utilities and insurance. The U.S. Department of Housing and Urban Development defines affordable housing as that which costs no more than 30% of a household’s income – including utilities and insurance.