KNOXVILLE, Tenn. — New affordable housing is being developed by a company called Hopeful Housing in North Knoxville. The company proposed building an affordable housing development in the Inskip area.
The company said that the project is still in the preliminary stages and still needs to get several approvals before they can break ground on the development. They said the construction is expected to begin in 2023 at the earliest, and they hope to have their first tenants in mid-2024.
Officials with the company said they hope to house 120 families in their new units.
Since last fall, Knoxville leaders have been working to bring affordable housing to Inskip. However, many people who live in the area say it will only bring more traffic. Other people say the more affordable housing, the better.
"We definitely need affordable housing around here. It took me about 2 years to get in where I'm at. It is affordable housing,” said Trina Thomas, who lives in an affordable housing unit in the Inskip area.
Two other projects are under construction in the area. One project is on Inskip Road and another is on Elder Road, creating more than 60 homes for the community.
“This helps serve families working and cannot afford market-rate rent right now. Rents in Knoxville continue to increase,” said Becky Wade, the Director of Housing and Neighborhood Development.
People can expect new homes on Inskip Road and Elder Road in January 2023.