Knoxville’s Community Development Corporation’s First Creek at Austin Phase 2 has earned the 2025 Affordable Housing Finance Readers’ Choice Award in the category of Best Public Housing Redevelopment. Image by Bruce McCamish

Knoxville’s Community Development Corporation (KCDC) has earned an Affordable Housing Finance Readers’ Choice Award in 2025 for First Creek at Austin Phase 2 in the category of Best Public Housing Redevelopment. The award will be presented Nov. 17 at the AHF Live conference in Chicago.

Affordable Housing Finance covers the affordable housing industry online and in print and is read by developers, community development bankers, financiers and housing officials from all levels of government.

Criteria for the Readers’ Choice Award included impact on the community; overall community revitalization or social change; use of cost-effective or innovative design and/or construction, including energy efficiency and sustainable development; efficiency in capital costs and/or maintenance/operating costs; provision of social services for residents; and broad community support, including state and local government financial assistance.

“While KCDC always appreciates recognition for our housing communities, receiving the Affordable Housing Finance Readers’ Choice Award represents affirmation from our peers,” KCDC Executive Director and CEO Ben Bentley said. “First Creek at Austin checked every box and is the result of multiple partners who all understood the vision and were committed to providing affordable housing that changes lives.”

Knoxville’s first mixed-income community, First Creek at Austin provides subsidized, workforce and market-rate housing in one neighborhood, connects residents to education, jobs and other resources and transformed an isolated location into a community with access to downtown and walking and transit connectivity.



First Creek at Austin Phase 2 construction funds came primarily through $19.6 million of low-income housing tax credits from the Tennessee Housing Development Agency (THDA), which allowed KCDC to raise tax credit equity to fund development.

Architecture for Phase 2 was provided by Johnson Architecture and Southeast Venture; Partners Development is owner representative; and Pinnacle Financial Partners is equity partner and mortgage lender. Phase 2 opened in 2024 with 180 one- to three-bedroom units.

Phase 1 opened in 2022 with 57 units in one multifamily building and 48 units spread across eight smaller townhome-style buildings.

Phase 3 opens this year and provides 161 new housing units, including 50 supportive housing units for low-income seniors, age 62 and older. The family units are located in large buildings and townhomes and include one-, two-, three- and four-bedroom options.

For more information about First Creek at Austin, visit firstcreekliving.com.

About Knoxville’s Community Development Corporation
Since 1936, KCDC has been dedicated to enhancing the quality of life for the citizens of Knoxville. KCDC’s mission is to improve and transform neighborhoods and communities by providing high-quality affordable housing, advancing development initiatives and fostering self-sufficiency. For more information, call 865-403-1100 or visit kcdc.org.