|August 1, 2012 -
There will be an Open House this Saturday, Aug. 4, at a home in the Lonsdale neighborhood built by the East Tennessee Housing Development Corporation with funds provided by the City of Knoxville.
The house at 3403 Bishop St. is available for purchase by low- to moderate-income families. Down-payment assistance up to a maximum of $29,000 is available through the City. The sales price will be the appraised value. The Open House will run from 11 a.m. to 2 p.m. on Saturday.
The 1,176-square-foot, 3-bedroom, 2-bath home is Energy Star 3, Earthcraft and Easy Living Home certified. Some features of the home include 40-year vinyl siding, 30-year dimensional shingles, Energy Star lights and ceiling fans, programmable thermostat, high efficiency electric water heater, an open floor plan, and a beautiful view.
The house was built with funds provided through the City's Community Development Department. Of the total construction cost of $137,000, Community Development provided about $66,000 through its HOME program, and another $42,000 as a loan through the Blighted Properties Redevelopment Program. The East Tennessee Housing Development Corporation provided the rest of the financing. (A second house was built next door, through the same combination of funding.)
Proceeds from the sale of the house will be used to repay the loan from the Blighted Properties Redevelopment Program, and to help ETHDC fund future housing efforts.