The ribbon cutting at Shallowford Pointe (Courtesy: DGA Residential)

CHATTANOOGA, Tenn. (WDEF)- A new affordable housing development in Chattanooga held its ribbon cutting Wednesday.

Shallowford Pointe is a 96 unit apartment complex across from the VA Hospital on Shallowford Road.

These are split up into two and three bedroom apartments.

Developed by DGA Residential, residents will be able to use section 8 vouchers to help pay their rent.

The income cap for a family of four is around $57,000 a year, and they have to apply through the Chattanooga Housing Authority, who owns a 20 percent stake in the complex.

Developers say the goal is that tenants will not spend more than 30 percent of their monthly income on rent.

Craig Cobb, the President of Development for DGA Residential said, “

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