As communities throughout the Denver metro area face increasing housing pressures among older adults living on fixed incomes, MGL Partners (MGL), a Denver-based multifamily, senior, workforce and affordable housing developer, in partnership with the City of Wheat Ridge and E5x Management, Inc., has advanced plans for Legacy Terrace Apartments, a new affordable senior housing community at the former Lutheran Hospital campus that will provide 50 affordable homes for older adults ages 62 and older.
Planned near the entrance of the new Lutheran Legacy mixed-use redevelopment at Lutheran Parkway W and West 38th Avenue, the proposed multifamily community would serve residents earning between 30% and 80% of area median income (AMI), helping address the growing need for affordable senior housing in Wheat Ridge and across Jefferson County.
The community is expected to include 43 one-bedroom units and seven two-bedroom units, along with on-site resident parking, energy-efficient building systems and resident service programming.
The county’s senior population is growing at historic rates, per the most recent Jefferson County Housing Needs Assessment, increasing demand for affordable and accessible housing options that support aging in place. At the same time, there are only 68 affordable housing units available for every 100 low-income renter households in Jefferson County.
Legacy Terrace Apartments’ average AMI is projected at 56%, creating much-needed housing opportunities for seniors across a broad range of income levels while helping longtime residents remain in the community as housing costs continue to rise.
“We regularly hear from our residents that they love Wheat Ridge and want to stay here, but once the kids are grown or the house starts feeling like too much, there’s simply nowhere to go that fits their budget and keeps them close to the community they’ve built,” said Wheat Ridge City Manager Patrick Goff. “By partnering with organizations like MGL Partners and E5x, we’re working to change that by creating housing options that let people age in place, stay connected to their neighbors, and call Wheat Ridge home no matter their income.”
MGL Partners recently executed a Purchase and Sale Agreement with E5x Management for the project site and plans to pursue 9% Federal Low-Income Housing Tax Credits (LIHTC) and Colorado State Tax Credits through the Colorado Housing and Finance Authority in February 2027.
“From the beginning, we envisioned Lutheran Legacy as a neighborhood that serves a broad mix of residents and creates long-term community value,” said Christopher Elliott, principal at E5x. “MGL Partners has been outstanding to work with during this process, and we appreciate their thoughtful approach to delivering affordable senior housing within the broader vision for the campus. This project reflects the kind of collaborative redevelopment that can make a meaningful impact for the community.”
E5x is leading the broader redevelopment of the former Lutheran Hospital campus through the Lutheran Legacy master plan, a mixed-use community envisioned to include housing, parks, civic uses and neighborhood-serving amenities. Legacy Terrace Apartments is intended to help ensure affordable senior housing is integrated into the long-term vision for the site and positioned prominently within the future neighborhood.
“Legacy Terrace Apartments represents the kind of collaborative, community-focused housing solution that is urgently needed across our region,” said Greg Glade, co-founder and principal of MGL Partners. “We are grateful to the City of Wheat Ridge and E5x for their partnership and shared commitment to creating housing opportunities for older adults at a range of income levels. Projects like this require creativity, persistence and strong public-private partnerships, and we believe Legacy Terrace will become an important part of the broader Lutheran Legacy vision.”
MGL Partners anticipates applying for tax credit financing in early 2027, with construction anticipated to begin following financing approvals. To further strengthen project feasibility and accelerate delivery, the City of Wheat Ridge is pursuing Proposition 123 Land Banking funding for the project through the May 2026 application cycle. They’ve also committed to exploring additional funding tools and incentives to help reduce development costs and support the long-term feasibility of the project, including grant funding awarded through the Colorado Energy Office to support affordable housing initiatives.
