March 13, 2025 – Tennessee Housing Development Agency presented a grant Thursday to Johnson City Housing Authority’s Keystone Development that will be used to build new affordable rental units for low-to-moderate income residents of Washington County.
The $1.2M HOME Rental Development grant from THDA will allow JCHA to construct ten apartment units in Washington County that will be rented below market rates.
“Communities across the state are challenged by a lack of safe, decent housing to rent at an affordable price,” THDA Executive Director Ralph M. Perrey said. “These funds will help address this need by providing newly-built units in Johnson City that residents of low-to-moderate income can afford.”
JCHA Executive Director Sam Edwards said the HOME funds will be used help meet a growing need for rental units that are not currently being built.
“Without the support and funding opportunities that THDA provides these accomplishments would not be possible and Keystone Development is proud to partner with THDA to create more affordable housing in Johnson City,” said Edwards.
Keystone broke ground on Myrtle Ct. Phase II on Thursday and the development will offer a mix of 10 spacious one- and two-bedroom one level apartments that will be made available to low-income families.
The HOME program is funded by the U.S. Department of Housing and Urban Development and is administered in part in Tennessee by THDA. THDA provides funding under its HOME Rental Housing Development Program for the new construction and/or acquisition and rehabilitation of rental housing projects that consist of no more than a total of 11 units.
Grants are awarded through a competitive application process to non-profit housing developers and public housing authorities in all 95 Tennessee counties.
HOME grants must be used for the production, preservation, or rehabilitation of affordable housing for low and very low income families and individuals.
