On Oct. 22, 2026, MGL Partners (MGL), a Denver-based multifamily, senior, workforce, and affordable housing developer, celebrated the opening of Iliff Terrace, a new affordable housing community located at 4750 E. Iliff Ave. in Denver’s University Hills neighborhood. The community provides 50 affordable apartments for adults age 62 and older earning between 30% and 80% of the area median income (AMI).
The four-story community expands the range of affordable housing options available to older Denver residents, including those earning above the income limits traditionally served by many tax credit developments. With access to public transportation, health care, groceries and neighborhood amenities, Iliff Terrace brings together affordable rents and a location that supports residents’ independence and ability to age in place.
“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. From the location and accessible design to the spaces for gathering with neighbors, this community is built to help people stay independent, connected and comfortably housed.”
Iliff Terrace includes 50 one-bedroom and six two-bedroom homes, with an average affordability level of 55% AMI. Each apartment features an in-unit washer and dryer, Energy Star appliances, solid-surface countertops and spacious closets. Shared amenities include a community room, fitness room, community garden and sky lounge with mountain views and access to a fourth-floor deck.
The all-electric building incorporates energy-efficient systems and universal design principles, with accessibility features that exceed Americans with Disabilities Act minimum requirements. Free Wi-Fi throughout the building and on-site amenities further support residents’ everyday needs.
Through a partnership with Eaton Senior Communities, a part-time, on-site service coordinator will connect residents with local resources and support services, develop wellness programming and help residents maintain their health and independence. The service adds a personal point of connection for residents seeking assistance and opportunities to participate in community life.
The development was made possible through public, private and nonprofit partnerships. Financing included 9% federal Low-Income Housing Tax Credits and state tax credits allocated by the Colorado Housing and Finance Authority and purchased by RBC and Sugar Creek Capital, respectively. Additional support came from Denver’s Department of Housing Stability, Impact Development Fund and the Colorado Health Foundation, along with all-electric rebates from Denver’s Office of Climate Action, Sustainability and Resiliency.
Project partners include Santulan Architecture, BC Builders, Silva Management Partners as property manager, and Eaton Senior Communities as service coordinator and special limited partner supporting the project’s property tax exemption.
Iliff Terrace builds on MGL Partners’ extensive record of delivering affordable housing across Colorado in recent years, including projects such as Tammen Hall and The St. Stephen Senior Apartments in Denver, Lumien at Fitzsimons in Aurora and Crisman Apartments in Longmont. The firm combines expertise in housing tax credits and complex financing with public and nonprofit partnerships to move needed housing from planning through construction and into service for residents.
