Knoxville is fast-tracking the creation of affordable housing by leveraging private and public investment.
City: Knoxville, TN
Purpose: To support investment in attainable housing and address local housing shortages for low-to-moderate income individuals and families.
Lead Stakeholders: Government, Community, Private Sector, Philanthropy
Process: In 2021, the City of Knoxville created an Affordable Housing Fund by city ordinance. The City has since invested $34.9 million over four years in the Affordable Housing Fund, outpacing its 10-year, $50 million goal.
The $34.9 million Affordable Housing Fund investment, combined with other contributions, totals over $48 million for affordable housing development, successfully attracting over $729 million in additional private and public funding.
The fund’s rapid growth has catalyzed the transformation of two 1940s-era public housing complexes and several new affordable housing developments, including three new Permanent Supportive Housing (PSH) developments.
Outcomes:
- Over the past five years, more than 2,600 new affordable housing units have been completed, approved, or are currently under construction.
View or download PDF of the Knoxville Affordable Housing Fund case study.
