MGL Partners (MGL), a Denver-based multifamily, senior, workforce and affordable housing developer with a mission to build lasting value through the creation of high-quality communities, has broken ground on Iliff Apartments, a new 50-unit affordable housing community serving adults age 62 and older. Located at 4750 E. Iliff Ave. in Denver’s walkable University Hills neighborhood, the four-story building will provide a mix of one- and two-bedroom apartments for residents earning between 30% and 80% of the Area Median Income (AMI).
Project partners include Santulan Architecture, BC Builders, Silva Management Partners (property management), and Eaton Senior Communities (service coordination and Special Limited Partner providing property tax exemption to the project).
When complete, Iliff Apartments will be the only age-restricted community in the area to offer LIHTC units at 61–80% AMI, addressing an unmet need in this area of Denver. The project’s central, transit-oriented location offers residents easy access to public transportation, healthcare, groceries, and neighborhood amenities that support economic mobility and aging in place.
“Colorado’s older adult population is projected to grow by 70% over the next two decades, and the state is already facing a serious shortage of housing for this cohort,” said Danielle Vachon Bell, development director at MGL Partners. “The pace of construction has not kept up with present need, let alone the demand we know is coming. Projects like Iliff Apartments are essential to filling that gap, providing thoughtfully designed, affordable homes in locations that give older residents access to transit, healthcare, and community, so they can age with dignity and stability.”
Denver Mayor Mike Johnston welcomed the groundbreaking, noting the project’s alignment with city priorities.
“The cost of rent should never be the reason a grandparent has to move away from their children and grandchildren,” said Mayor Johnston. “Developments like Iliff Apartments ensure older Denverites stay in the city they call home and will help us achieve our goal of a Denver that’s affordable for all.”
The 50 apartments will include 44 one-bedroom and six two-bedroom units, with an average affordability level of 55% AMI. Residents will have access to a variety of shared spaces including a community room, exercise area, roof deck with mountain views, and community gardens. Additional amenities include a dog run, pollinator garden, shaded picnic area, and free Wi-Fi throughout the building.
To support residents’ quality of life and minimize expenses, the property features an environmentally friendly, energy-efficient design, including all-electric systems and EV charging stations. The project additionally incorporates universal design principles and exceeds ADA accessibility minimums. A part-time, on-site service coordinator, provided in partnership with Eaton Senior Communities, will connect residents with local community supports and services, develop wellness programming, and help promote a culture of health and independence.
Iliff Apartments was made possible with a combination of 9% Federal Low-Income Housing Tax Credits (LIHTC) and State Tax Credits allocated by the Colorado Housing and Finance Authority (CHFA) and purchased by RBC and Sugar Creek Capital, respectively, along with funding from the City and County of Denver’s Department of Housing Stability (HOST), Impact Development Fund (IDF), the Colorado Health Foundation, and All-Electric rebates from the City and County of Denver’s Climate Action, Sustainability and Resiliency (CASR) department. The project’s total development cost is estimated at $25.8 million.
Construction is expected to be completed in September 2026.
