KNOXVILLE, TN — August 5, 2026 — PWA Properties, a fully integrated commercial real estate firm specializing in design, development and brokerage services, on Tuesday announced its Multifamily Team has closed the $24.4 million sale of Strawberry Meadows Townhomes, an 85-unit Class A rental community in Knoxville, Tennessee. The sale validates a development that many initially believed would not succeed.
When Strawberry Meadows was first proposed, many questioned whether the Strawberry Plains community in Knoxville
As the first development of its kind in the area, Strawberry Meadows ultimately surpassed
“Strawberry Meadows is a prime example of why PWA Properties believes in the long-term growth of East Tennessee,” said Jay Benson, CEO of PWA Properties. “Despite skepticism from lenders, our Multifamily Team and the seller/developer bet that this part of Knoxville was ready for premium rental housing. This development and sale proved that vision right.”
The seller, who also served as the project’s general contractor, invested in his family’s future in Strawberry Meadows from the start. After relocating to Tennessee, the family lived on-site and worked alongside crews to help build the community, even demolishing their own home to make room for additional townhome units.
The transaction reflects broader shifts across East Tennessee, where sustained population growth, expanding employment and limited housing supply continue to reshape investor interest in high-quality multifamily developments.
For PWA Properties, Strawberry Meadows demonstrates the advantage of an integrated approach that combines design, development and brokerage expertise under one roof. By guiding projects from concept through disposition, the firm identifies opportunities earlier, creating greater long-term value and delivering developments that meet evolving market demands