The Residences at Five Point, located at 2061 Bethel Ave in Knoxville, has one and two bedroom apartments. The Residences at Five Point participates in the Low-Income Housing Tax Credit (LIHTC) and Section 8 Project-Based Rental Assistance programs.
|One Bedroom One Bath (1/1)||-||Call for Price|
|Two Bedroom One Bath (2/1)||-||Call for Price|
The Residences at Five Points is a 90-unit development exclusively for seniors and people with disabilities.
Located at the corner of Bethel Avenue and McConnell Street, the complex features 84 one-bedroom units and six two-bedroom units. It includes two elevators, community room with computer stations, laundry facilities and green space with a picnic pavilion.
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.
The Residences at Five Point is managed by Knoxville Community Development Corporation.