FOR IMMEDIATE RELEASE
Feb. 19, 2016
For more information,
Contact: Amanda Shell Jennings
Knoxville’s Community Development Corporation (KCDC) will hold a public meeting to present final renderings of a new affordable senior housing development to Five Points’ residents and community stakeholders on Monday, Feb. 29, at 5:30 p.m. at the Walter P. Taylor Boys & Girls Club, 317 McConnell St.
The development will be the first units to be built back onto the footprint of Walter P. Taylor Homes and Dr. Lee L. Williams Senior Complex. Construction of The Residences at Five Points is expected to cost approximately $10 million and KCDC plans to break ground on the senior housing development in April 2016.
“This 90-unit senior housing development will put into action the first phase of the Master Plan,” KCDC Executive Director and CEO Art Cate said. “Communicating with stakeholders and residents throughout this process is a top priority, and the community’s input and approval are critical to the project’s success. We are excited to present the final renderings for Phase I of the Master Plan to the community.”
KCDC and its Master Plan team led by Johnson Architecture gathered input from the community over multiple public meetings and interviews for more than year to incorporate into the plan, which was presented to the community in 2014. The Master Plan details the next planned phases of redevelopment on the footprint of two current KCDC properties, Walter P. Taylor Homes and Dr. Lee L. Williams Senior Complex. At the Feb. 29 public meeting, KCDC and the Master Plan team also will update residents on plans for the next phase of redevelopment in the community.
“Our goal is to meet the community need for affordable housing and to ensure the architectural style of new construction fits with the existing neighborhood,” said Cate. “The Master Plan will improve connectivity to the surrounding community in Five Points with decreased density of units, new sidewalks and upgraded infrastructure to increase walkability. The new developments also will feature attractive green spaces and connection to the City of Knoxville greenway system.”
The 90-unit development, which will be exclusively for elderly and disabled residents, will be located at the Bethel Avenue and McConnell Street. The three-story building will include 84 one-bedroom units and six two-bedroom units. The property will have two elevators and community space, including a meeting room, computer stations and laundry facilities. The site will also offer a green space with a picnic pavilion and dog park.
KCDC was approved for low-income housing tax credits for construction of the project in June 2015 from the Tennessee Housing and Development Association (THDA). The state issues a limited number of tax credits each year through a highly competitive application process for new affordable housing construction or substantial renovation of existing units.
While the Master Plan covers new affordable housing built on the footprint of Walter P. Taylor Homes and Dr. Lee Williams Senior Complex, KCDC already has invested more than $21 million in new affordable housing and with its owner’s representative, Partners, has completed several major construction projects in Five Points since 2010.
In 2011, KCDC opened the Residences at Eastport, an 85-unit, LEED Platinum-certified senior housing development. Senior housing duplexes also had been added in 2010, placing an additional 20 housing units in the community. These developments are fully leased.
In August 2012, 86 units of Walter P. Taylor Homes and 97 units of Dr. Lee L. Williams Senior Complex were demolished as part of a first phase to replace older public housing with new units.
In November 2013, KCDC completed the next phase of redevelopment when it opened two multiplex buildings that house 12 Five Points’ families. Two duplexes and a single-family home already have been constructed and leased. In total, 17 family-style units have been added to the neighborhood.
So far, 122 units of senior and family-style housing have been constructed to replace the demolished units. Residents displaced at Walter P. Taylor Homes received priority placement in the new units in Five Points, priority placement at another KCDC property or a Section 8 voucher.
The ultimate goal of the Master Plan is to reduce the density of units in the footprint from 500 at its highest point to approximately 300 and to spread the additional replacement units in infill housing integrated into the community.
The total cost of the Five Points revitalization project will be approximately $85 million and is estimated to take place over 10 to 12 years. The City of Knoxville has dedicated $8 million over a 10-year period to the project.
Since 1936, KCDC has been dedicated to enhancing the quality of life for the citizens of Knoxville and Knox County. KCDC’s mission is to improve and transform neighborhoods and communities by providing quality affordable housing, advancing development initiatives and fostering self-sufficiency. For more information, call 865-403-1100 or visit http://www.kcdc.org.