Ongoing efforts to address the affordable housing crisis in Denver have taken a solid step forward with the groundbreaking of Iliff Apartments, a community aimed at offering affordable living spaces for older adults. According to the City and County of Denver, the new development located at 4750 E. Iliff Ave. in the University Hills neighborhood will consist of a 50-unit community designed specifically for residents 62 years and older who earn between 30% and 80% of the Area Median Income (AMI).
Denver Mayor Mike Johnston underscored the project's significance in meeting the city's housing needs. "The cost of rent should never be the reason a grandparent has to move away from their children and grandchildren," Mayor Johnston told the City and County of Denver. He believes Iliff Apartments will help "achieve our goal of a Denver that’s affordable for all." This resonates particularly because Iliff's location promises to directly connect residents both to essential services and transit options.
Highlighting the pressing demand for such initiatives, Danielle Vachon Bell, Development Director at MGL Partners, stressed the urgent need for affordable housing within the context of Colorado’s demographic trends. "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," Bell explained, as reported by City and County of Denver. She added, "The pace of construction has not kept up with present need, let alone the demand we know is coming."
The Iliff Apartments project is designed to be not just affordable but livable, with amenities that include a community room, exercise area, and outdoor spaces. Committing to environmental sustainability, the developers have ensured to include an energy-efficient design with all-electric systems and EV charging stations. A partnership with Eaton Senior Communities will also provide a part-time, on-site Service Coordinator to help promote health and independence for residents. With a price tag of approximately $25.8 million, the project sees financial backing from the city itself, as it's thrown in $2.2 million from its Affordable Housing Fund, among other financial supporters.
