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.
|One Bedroom One Bath (1/1)||-||Call for Price|
|Two Bedroom One Bath (2/1)||-||Call for Price|
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. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.
The Residences at Five Point is managed by Knoxville Community Development Corporation.