Knoxville’s Community Development Corporation (KCDC) received a Tennessee’s Best award in the urban category for The Residences at Five Points during the Governor’s Housing Conference on Sept. 21 in Nashville.
Presented by the Tennessee Housing Development Agency (THDA), the Tennessee’s Best award for recognizes excellence in the development or management of affordable housing that reflects the highest standards in quality and sustainability.
“We are honored to earn this recognition for The Residences at Five Points, which is Phase 1 of the Five Points Master Plan,” KCDC Executive Director and CEO Ben Bentley said. “We recognize with appreciation the years of valuable input and vision from community leaders and residents that helped shape the Five Points Master Plan and look forward to continued success as we accomplish additional phases.”
The Residences at Five Points had its official ribbon-cutting Aug. 30. The 90-unit complex on Bethel Avenue in East Knoxville serves seniors and people with disabilities. Managed by KCDC, the complex was designed by Johnson Architecture and built by Merit Construction. Partners serves as KCDC’s owner representative.
The Residences at Five Points is a $10 million development funded primarily through low-income housing tax credits from THDA.
The Five Points Master Plan guides the design and features of all four phases of the neighborhood’s revitalization. Led by Johnson Architecture, the master planning process included input from residents of the Walter P. Taylor and the Lee Williams developments, along with other community members and stakeholders, to determine how to address community needs and concerns.
Work on implementing additional Five Points phases continues. In May, KCDC broke ground on Phase 2, a $13 million, 84-unit affordable housing complex for families to be built at Martin Luther King Jr. Avenue and McConnell Street. Construction is expected to start in 2018 for Phase 3, an $11 million complex of 80 one- to three-bedroom family and senior units within 34 duplex and triplex buildings. Phases 2 and 3 also qualified for low-income housing tax credits from THDA.
Since 2010, KCDC and the City of Knoxville have invested more than $31 million to replace outdated housing units in the Five Points neighborhood with new construction of 212 units of affordable housing. This includes the adaptive reuse of the Eastport School and The Residences at Eastport for senior housing.
About Knoxville’s Community Development Corporation
Since 1936, KCDC has been dedicated to enhancing the quality of life for the citizens of Knoxville. KCDC’s mission is to improve and transform neighborhoods and communities by providing high-quality affordable housing, advancing development initiatives and fostering self-sufficiency. For more information, call 865-403-1100 or visit https://www.kcdc.org/.