121 units of affordable housing on a long-vacant site less than a mile from downtown Knoxville.
Riella on 5th transformed a long-vacant site at Fifth Avenue and Cooper Street, less than a mile from Market Square and the Old City, into 121 units of affordable housing for Knoxville's urban core. Developed by DGA Residential in partnership with KCDC, the four-story community serves households earning up to 80 percent of area median income, with affordability guaranteed for at least 30 years.
We provided ground-up general contracting for the entire community. The lot is a tight urban infill site with constrained staging, active streets, and a KAT transit route on its perimeter. The capital stack, spanning HUD, the Tennessee Housing Development Agency, $2.27 million in City of Knoxville support, and two lenders, brought layered compliance and hard deadlines tied to the affordability financing. Within those constraints, every home gets granite countertops, wood-style plank flooring, and washer/dryer connections, with solar power serving the common areas.
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