Tennessee (TN)

Knoxville

Riella on 5th Affordable Apartments / Knoxville - 6151451

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Privately Funded

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Publicly Funded

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Published May 16, 2026 at 8:00 PM

Updated May 19, 2026

Description

Site work and new construction of a mixed-use development in Knoxville, Tennessee. Conceptual plans call for the construction of a four-story above grade, 121-unit multi-residential development; conference / convention center; and fitness / recreation center.

Riella on 5th is a four-storey, 121-unit affordable housing development replacing a dilapidated structure and vacant lot along West Fifth Avenue in downtown Knoxville. The project includes one-, two-, and three-bedroom apartments targeted to households earning up to 80% of the area median income, along with resident amenities such as a fitness centre, computer room, tutoring and gathering spaces, and solar-powered common areas. The total project cost is reported at approximately $90 million. Construction officially broke ground in May 2026, with completion anticipated in late 2027, supported by a mix of municipal funding, federal relief dollars, and bond financing.

Details

Stage

Conceptual

Building Use

Multi-Residential

Value

$90,000,000.00

Sector

Public - City

Project Type

New Construction, Site Work

Bonds

Set Asides

Documents Not Available

Plans and Specifications are not available for this project. If that changes, they will be made available here.

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Contacts

1 Record(s)

Owner

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Start Date

November 1, 2026

Location

521 W Fifth Ave, Knoxville, TN

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