Iliff Terrace Brings 50 Affordable Senior Apartments to Denver's University Hills
Iliff Terrace, a 50-apartment affordable senior community in Denver's University Hills, celebrated its grand opening October 22, serving residents 62 and older earning 30 to 80 percent of area median income. The $25.8 million, four-story, all-electric building was financed with 9 percent federal LIHTC and Colorado state credits through CHFA, plus support from Denver's housing department, the Impact Development Fund and the Colorado Health Foundation. Homes average 55 percent AMI affordability - a wider band than typical tax-credit senior properties, reaching seniors usually stuck between regulated and market-rate housing. A part-time service coordinator from Eaton Senior Communities will support residents' health and independence; the building exceeds ADA minimums and includes a sky lounge, community garden and fitness room. The opening extends MGL Partners' Colorado affordable pipeline and offers a replicable template as the 62-plus renter population becomes the market's fastest-growing segment.