SCOTT COUNTY, Tenn. — Families have a new place to live in Oneida as of Friday after local leaders cut the ribbon on a new affordable housing apartment complex.
The Bear Creek Apartments include 64 units and were built with help from the Tennessee Housing Development Agency. The THDA said it allocated more than $12 million in Low-Income Housing Credits for the project, helping reduce costs. They also said the tax credits should help make sure rent stays below market rate.
“Projects like this change the image of affordable housing and we’re working hard with our tax credit program to provide sustainable, quality housing that anyone would be proud to live in,” said Ralph Perrey, THDA's Executive Director.
The apartment complex was already open by the time the ribbon-cutting ceremony kicked off, and THDA said almost half of all units were already leased. It includes a mix of one-bedroom, two-bedroom and three-bedroom units.
The complex also includes a range of amenities like a pool, a community building, a clubhouse, a fitness area and a children's play area.
According to a release from THDA, the rent residents pay is based on their income. Anyone interested in applying to live in the apartment complex can find an application and more information on its website. It is located at 1200 Bear Creek Rd. in Oneida.