MGL Partners Opens Affordable Senior Housing Community in Denver
October 21, 2026
DENVER — MGL Partners has opened Iliff Terrace, a new affordable senior housing development in Denver’s University Hills neighborhood, providing 50 apartments for adults age 62 and older.
The four-story, all-electric community at 4750 E. Iliff Ave. includes 44 one-bedroom and six two-bedroom apartments for residents earning between 30% and 80% of the area median income (AMI), with an average affordability level of 55% AMI. The income range extends housing options to older adults who may earn too much to qualify for some traditional low-income housing tax credit developments.
“For older adults living on a fixed income, finding an affordable home can mean having to leave a neighborhood they know or move farther from the people and services they rely on,” said Danielle Vachon Bell, development director at MGL Partners. “We developed Iliff Terrace to give residents more choices about where and how they age.”
The apartments feature in-unit washers and dryers, Energy Star appliances, solid-surface countertops and spacious closets. Shared amenities include a community room, fitness room, community garden and fourth-floor lounge with mountain views and access to an outdoor deck.
The building incorporates energy-efficient systems and universal design principles, with accessibility features that MGL Partners said exceed minimum requirements under the Americans with Disabilities Act. Free Wi-Fi is available throughout the community, which is located near public transportation, healthcare services, grocery stores and other neighborhood amenities.
Through a partnership with Eaton Senior Communities, a part-time, on-site service coordinator will help residents access local resources and support services, organize wellness programming and connect with community activities.
Financing for Iliff Terrace included 9% federal Low-Income Housing Tax Credits and state tax credits allocated by the Colorado Housing and Finance Authority. The federal and state credits were purchased by RBC and Sugar Creek Capital, respectively.
Additional funding and support came from Denver’s Department of Housing Stability, Impact Development Fund and the Colorado Health Foundation, along with all-electric rebates from the city’s Office of Climate Action, Sustainability and Resiliency.
Project partners included Santulan Architecture, BC Builders and property manager Silva Management Partners. Eaton Senior Communities also serves as a special limited partner supporting the development’s property tax exemption.
Denver-based MGL Partners develops market-rate, affordable, senior and workforce rental housing throughout Colorado. Its previous developments include Tammen Hall and The St. Stephen Senior Apartments in Denver, Lumien at Fitzsimons in Aurora and Crisman Apartments in Longmont.
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