May. 11, 2026
DGA Residential, along with community leaders and project partners, officially broke ground May 11 on Riella on 5th, a 121-unit affordable housing community that will enhance the urban landscape along Fifth Avenue and Cooper Street in North Knoxville. The complex is expected to be completed in late 2027.
The four-story development at 525 W. Fifth Ave., just north of downtown Knoxville, replaces a dilapidated structure and adjacent vacant lot with a J-shaped building including 39 one-bedroom, 39 two-bedroom and 43 three-bedroom units. The complex includes seven fully ADA-accessible units and three units designed for tenants with sight or hearing impairment.
“Riella on 5th offers quality affordable housing options for individuals and families in North Knoxville,” said Craig Cobb, president of development for DGA Residential. “We are committed to addressing the need for safe, attainable housing and are excited to see a transformative impact for the neighborhood.”
The apartment units will include modern finishes and amenities, including granite countertops, luxury vinyl plank flooring and washer and dryer connections. Residents will access units and community spaces through interior corridors. Solar panels will power common areas that include a fitness center, computer room and spaces that can accommodate tutoring or tenant gatherings.
The City of Knoxville invested $2.27 million toward the development through American Rescue Plan Act funds and Payment in Lieu of Taxes (PILOT) incentives.
“The City is committed to supporting the creation of affordable housing in all parts of Knoxville,” Knoxville Mayor Indya Kincannon said. “Public and private partnerships like this one with DGA Residential will create much-needed new, affordable homes for 121 families within walking distance of jobs and opportunities throughout downtown.”
Riella on 5th is located along public transit with a bus stop directly on the corner of West Fifth Avenue and Cooper Street. The complex, located just a mile from Covenant Health Park, is also near employment and downtown amenities.
Riella on 5th will accept tenants with Section 8 Housing Choice Vouchers (HCVs) and also welcomes qualified applicants with incomes up to 80 percent of Area Median Income (AMI). In Knoxville, that is up to $79,500 for a family of four.
Interested applicants can inquire through Knoxville’s Community Development Corporation (KCDC) or DGA Residential.
Riella on 5th is co-developed and co-owned by DGA Residential and Knoxville’s Community Development Corporation (KCDC).
“KCDC is focused on building communities that do more than provide housing—they create a foundation for opportunity,” said KCDC Executive Director and CEO Ben Bentley. “Through our partnership with DGA Residential, we’re able to support the expansion of high-quality affordable housing in Knoxville at a time when it’s needed most.”
The apartment community will remain affordable housing for at least 30 years.
Support for the affordable housing complex is provided by the City of Knoxville, U.S. Department of Housing and Urban Development (HUD) and Tennessee Housing Development Agency (THDA). U.S. Bank and Walker & Dunlop are providing financing, Studio A is providing architectural design, and J.A. Fielden serves as general contractor.
Founded in 2020, DGA Residential is a brand of Knoxville-based Dominion. It focuses on the development of affordable housing properties across the Southeast through acquisition and new construction.
In the Knoxville area, DGA Residential opened 184-unit Grosvenor Square in October 2025; 47-unit Bluegrass Landing in September 2025; 96-unit Riverside at Holston in April 2025; and 72-unit Lakeview at Westland in 2023.
Construction is underway on an 84-unit property in Hardin Valley expected to be completed in fall 2026. DGA Residential is partnering with KCDC to redevelop a portion of the former St. Mary’s Hospital site with 170 townhome and apartment units, including 40 units earmarked for seniors.
Dominion also is partnering with Bluedog Capital Partners on 144 market rate housing units at MAC on Fifth, a mixed-use complex under development in the 200 block of West Fifth Avenue that will include 10 percent of units set aside for workforce housing.
Further developments, including both workforce and market rate units, are planned to begin in 2027, including 122 units on Hillwood Avenue in South Knoxville and 80 townhomes on Gov. John Sevier Highway.
For more information about DGA Residential, visit riella.us.
About DGA Residential
DGA Residential LLC is an affordable housing development and management company focused on the construction, acquisition, rehabilitation and management of apartment communities. DGA Residential is a brand of Dominion, a company that started out of a passion to positively affect the community through real estate development. Dominion currently owns 32 properties across the Southeast, including 16 affordable housing communities and 16 market-rate communities. DGA Residential serves as the platform for both current and future affordable housing endeavors and seeks to create a unique experience for both residents and employees, providing superior housing and establishing a sense of community in which residents are proud to live.
