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Council approves $1.06 million gap loan to convert historic Giffen School into affordable housing
Summary
The council authorized up to $1,059,400 from the Affordable Rental Development Fund to Historic Giffen LP to support conversion of the vacant Giffen School and construction of associated buildings into affordable housing; neighborhood speakers and the developer described a larger 77‑unit project.
The Knoxville City Council voted to award up to $1,059,400 from the city’s Affordable Rental Development Fund to Historic Giffen LP to support redevelopment of the Giffen Grammar School property at 1834 Beach Street into affordable rental housing.
The resolution was introduced as agenda item 11F and approved by voice vote.
The city’s funding will fill a gap in the project financing for a development proponents described as a larger effort to restore and reuse the historic school building. Benjamin Case, representing Case Enterprises, said the overall Historic Giffen Square project restores about 30,000 square feet of the existing historic…
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