Construction Complete on 50-Unit Affordable Senior Housing Development in University Hills

DENVER, CO — Construction is complete on Iliff Terrace, a new four-story affordable senior housing development located at 4750 E. Iliff Avenue in Denver’s University Hills neighborhood. Developed by Denver-based MGL Partners, the newly opened community introduces 50 income-restricted apartments for adults ages 62 and older.

MGL Partners Cutting the Ceremonial Ribbon During the Grand Opening | Photo Courtesy of MGL Partners

The development provides housing for residents earning between 30% and 80% of the area median income (AMI), with an average affordability level of 55% AMI. The project expands the neighborhood's supply of income-restricted housing specifically designated for older adults.

Iliff Terrace was designed by Santulan Architecture and constructed by BC Builders. The all-electric building incorporates energy-efficient systems, accessible residential layouts, and universal design principles intended to accommodate residents with varying mobility needs. According to the development team, several accessibility features far exceed the minimum requirements established by the Americans with Disabilities Act.

Individual apartments feature in-unit washers and dryers, Energy Star appliances, solid-surface countertops, and spacious closets. The building also includes free Wi-Fi throughout the property.

Aerial Photo of Iliff Terrace | Photo Courtesy of MGL Partners

Shared amenities include a community room, fitness center, community garden, and a fourth-floor sky lounge with mountain views and access to an outdoor deck. These spaces provide residents with indoor and outdoor gathering areas throughout the property.

The development is located near public transportation, grocery stores, health care facilities, and other neighborhood services. Its location and building design are intended to accommodate older adults who want to remain in their communities while maintaining access to everyday necessities.

In addition to its residential amenities, Iliff Terrace includes an on-site service coordination program through a partnership with Eaton Senior Communities. A part-time service coordinator will connect residents with local resources, support services, and wellness programming.

Photo of the hared Amenity Space | Photo Courtesy of MGL Partners

The project was financed through a combination of public, private, and nonprofit funding sources. Financing included 9% federal Low-Income Housing Tax Credits and state housing tax credits allocated through the Colorado Housing and Finance Authority (CHFA), with investments from RBC and Sugar Creek Capital. Additional financial support came from Denver's Department of Housing Stability, Impact Development Fund, and the Colorado Health Foundation. The development also received all-electric building rebates through Denver's Office of Climate Action, Sustainability and Resiliency.

The opening comes as Colorado continues to experience an increase in its older population. More than one in three Colorado households with an adult age 65 or older spend at least 30% of their income on housing, while the state's population in that age group is projected to grow nearly 30% by 2035.

Iliff Terrace is the latest affordable housing development completed by MGL Partners, which has previously developed projects including Tammen Hall and The St. Stephen Senior Apartments in Denver, Lumien at Fitzsimons in Aurora, and Crisman Apartments in Longmont.

Development Team:

• Developer: MGL Partners

• Architect: Santulan Architecture

• General Contractor: BC Builders

• Property Management: Silva Management Partners

• Resident Services: Eaton Senior Communities

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All project information was sourced from publicly available site plans, renderings, and permitting documents.