KNOX COUNTY, Tenn. (WATE) — Growth and development are continuing in Knoxville with 47 units of affordable housing opening in West Knoxville on Tuesday. This comes after years of rising house prices as many people moved into the Knoxville area.
Representatives from DGA Residential, community leaders and partners held a ribbon-cutting ceremony for Bluegrass Landing at 10:30 a.m. for the new development at 1645 Ebenezer Road. The company is accepting qualified applicants with incomes of up to 60% Area Median Income. This means that families of four making $59,640 per year or less and families of five making $64,380 per year can apply.
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“We’ve got 24 three-bedroom units and 23 four-bedroom units here at Bluegrass within walking distance of Blue Grass Elementary,” said Craig Cobb, president of development of affordable housing at DGA Residential. “It’s a unit mix of affordable housing that isn’t being done right now but is in desperate need.”
The prices for the units are income-based, so no resident in a three-bedroom unit will pay more than about $1,450 per month, and no one in a four-bedroom unit will pay more than $1,600, Cobb explained. He said this was a steep discount on market rates. The property also has a clubhouse, playground, business center, fitness center and on-site management…