A vacant property in the commercial area near the intersection of North Peters and Cedar Bluff roads is set to become something other than a restaurant or shopping area. And even though several hotels are nearby, it won’t be one of those either.
The project, in its early stages at 303 N. Peters Road, is expected to become the site of more than 200 affordable housing units.
The multifamily housing facility is being developed through a partnership between Knoxville’s Community Development Corporation (KCDC) and Elmington Capital Group, according to KCDC’s MoxCar representative.
How many units will the new housing complex have?
The apartment facility is expected to have 202 units, according to a MoxCar statement to Knox News on July 16.
A July 2025 City of Knoxville Housing and Urban Development notice
described the proposed affordable housing complex as consisting of a mixture of units between one and four bedrooms. The property spans just more than two acres.
At least 40% of the units would be reserved for households earning less than 60% of the area's median income, according to KCDC documents. KCDC approved financing the project through up to $45 million in multifamily housing revenue bonds.
What’s next for the North Peters Road housing complex?
As of early July, the 303 N. Peters Road plat review had been cleared by Knoxville-Knox County Planning and was in the "notify to certify" stage, meaning staff had signed off and the surveyor was preparing the final property layout to be officially filed for development.
Knox News reached out to Elmington Capital Group for an expected completion date, renderings and other project details, but has not received a response as of July 22.
Elmington has partnered with KCDC on previous affordable housing communities, including Moss Grove, Flats at Pond Gap and Lumen Flats.
KCDC and the city have been investing in new affordable and mixed income housing opportunities across Knoxville, including West Knoxville, through the Affordable Housing Fund and public-private partnerships.
Devarrick Turner is a trending news reporter. Email devarrick.turner@knoxnews.com.
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This article originally appeared on Knoxville News Sentinel: What's that going onto the corner of North Peters and Cedar Bluff?
