The City of Knoxville established an Affordable Rental Development (ARD) fund with an initial amount of $2 million for the creation of new affordable and workforce rental housing. With the 2021 ordinance creating the City's Affordable Housing Fund, the ARD has become even more robust, and has received ongoing funding to carry out its goals.

This fund is in response to the need for standard rental units that are affordable to low and moderate income renters.

Before the ARD fund was established, Knoxville had lost hundreds of affordable units and at the same time, market rents began been steadily climbing. Those same market forces have continued to create challenges for affordable housing in Knoxville.

In an effort to increase the supply and long-term availability of rental housing options for persons with modest incomes, this fund was established to incentivize the development of quality affordable rental housing. 

Properties assisted with funding through the Affordable Rental Development Fund:


DISTRICT 1

Southside Flats – 172 units (complete)
2727 Ft. Stanley Way, Knoxville 37920
www.southsideknox.com

Young High Flats – 156 units (complete)
111 East Young High Pike, Knoxville 37920
www.younghighflats.com
 
Historic Giffin Square - 77 units (under construction)
1835 Beech St., Knoxville 37920

DISTRICT 2

Restoration House – 30 units (complete)
2205 Village Place Way, Knoxville 37923
www.therestorationhouse.net

Flats at Pond Gap – 102 units (complete)
817 Hollywood Road, Knoxville 37919
www.flatsatpondgap.com

Moss Grove Flats – 192 units (complete)
834 Sapling Grove Way, Knoxville 37922
http://www.mossgroveapts.com/


DISTRICT 3

Middlebrook Gardens – 10 units (complete)
3720 Middlebrook Pike, Knoxville 37921

Cottages at Clifton Rd – 53 units (complete)
Clifton Road, Knoxville 37921
www.kcdc.org/housing/the-cottages-at-clifton
 
Callahan Flats - 88 units (complete)
1511 Callahan Drive, Knoxville 37912
www.ehmgmt.com/callahan-flats-knoxville-tn

DISTRICT 4

Dogwood Springs Apartments – 50 units (complete)
2704 Mineral Springs Avenue, Knoxville 37917
https://mcnabbcenter.org/dogwood-springs/

Edgewood Apartments - 15 units (under construction)
2501 Edgewood Ave., Knoxville 37917

DISTRICT 5

Inskip Flats - 66 units (complete)
4755 Romeo Way, Knoxville 37912

Central Terrace - 112 units (complete)
4510 Fennell Road, Knoxville, 37912
www.ehmgmt.com/central-terrace-apartments-knoxville-tn

Grosvenor Square - 184 units (complete)
3872 Decoration Way, Knoxville 37912
www.dgaresidential.com/properties/grosvenor-square/

Village at Inskip - 98 units (under construction)
520 Inskip Village Way, Knoxville 37912

DISTRICT 6

Village at Holston Court – 24 units (complete)
123 Holston Village Way, Knoxville 37914
www.homesourcetn.org

Burlington Commons – 49 units (complete)
4530 Holston Drive, Knoxville 37914
www.varnerhomes.com/burlington-commons

Dogan-Gaither Flats - 16 units (complete)
211 Jessamine Street, Knoxville 37917

Ammons at Asheville Hwy. - 80 units (complete)
4617 Asheville Hwy., 37914
https://www.ehmgmt.com/the-ammons-at-asheville-hwy

First Creek at Austin - 161 units (complete)
1250 Elston Turner Drive, 37915

Five Points Infill - 10 units (complete)
Ben Hur Avenue, Selma Avenue, Chestnut Street, 37914

Liberty Place - 32 units (complete)
3627 Division St., Knoxville 37919
www.kcdc.org/housing/libertyplace/

Riverside at Holston - 96 units (complete)
2129 River Willow Way, Knoxville 37914
www.dgaresidential.com/properties/riverside-at-holston/

Parkview Apartments - 10 units (under construction)
2226 Parkview, Knoxville 37917

Affordable Rental Development Guidelines [PDF]

Affordable Rental Development Fund Application [PDF]