06/21/22
Designed by Santulan Architecture, St. Stephen is slated to close in May 2023, with a 12–14-month construction timeline. MGL intends to complete the development by summer 2024 when leasing will begin.
Denver-based MGL Partners (MGL), a multifamily, senior, workforce and affordable housing developer, has been awarded 9 percent competitive Federal Low Income Housing Tax Credits (LIHTCs) for the construction of 50 units of affordable senior housing in Denver’s Central Park from the Colorado Housing Finance Authority (CHFA).
“The St. Stephen Senior Apartment community is a project that encapsulates everything we strive to create at MGL,” said Dani Vachon, development manager at MGL Partners. “We are incredibly proud to receive the award for St. Stephen, because not only are these tax credits highly competitive, but this was also the only Denver development out of 12 state-wide recipients. By investing in and developing more affordable senior housing options in Denver, we are creating the foundation for a stronger, more sustainable future for Colorado.”
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