Knoxville cuts ribbon on $22M affordable housing development

Local News

KNOXVILLE, Tenn. (WATE) — Apartments were filling up even before the ribbon was cut at Flats at Pond Gap.

The apartment complex features affordable rental housing for families whose annual income is at or below 60% of the area median income.

“Affordable” is defined as costing the renter no more than 30% of household income. City Council approved $555,000 in funding from the City’s Affordable Rental Development Fund to support the Flats at Pond Gap development.

The apartment complex said in a social media post that its one-bedroom apartments were already taken but two- and three-bedroom apartments are still available for rent.

The project was developed by Elmington Capital Group of Nashville in conjunction with the city, Knoxville’s Community Development Corporation, and other government agencies.

To qualify for residency, you have to apply through KCDC. Residents receive a project-based voucher, a component of a public housing agency’s Housing Choice Voucher program.

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