KNOXVILLE, Tenn. (WATE) — Knoxville’s first mixed-income, affordable housing community is open.

Knoxville’s Community Development Corporation was joined by city officials to cut the ribbon for Phase 1 of First Creek at Austin, a mixed-income, affordable housing community on the edge of downtown. In 2019, the plan for the development was set in motion. KCDC met with community members to create a master plan to create a total of about 430 units over three phases.

105 units are available in Phase 1, 55 units are in one multifamily building and 50 are spread across six smaller buildings. First Creek at Austin is located on the former site of Austin Homes, which was established in 1941 just east of downtown.

“It improves and increases both the quality and the supply of affordable housing in Knoxville but it is also going to increase the larger supply. So when we get done with Austin, which we’re still a ways away from that, but 430 new units of housing will help the affordability in the larger market,” said Ben Bentley, CEO of KCDC. “We want to offer very low-income folks the ability to have a great unit that’s subsidized which means their rent would move with their income.”

They will also be offering flat rents at below-market rates for lower-middle-class people who want to live close to downtown. People can apply to live at First Creek at Austin on Bentley said there is a waitlist, but he encourages people to apply as KCDC hopes to open more units in the next 6 months.