2189 N Valentia Street

Denver just welcomed 50 new affordable apartments for older adults with the grand opening of The St. Stephen in Central Park.

The four-story community, developed by MGL Partners in collaboration with the historic St. Stephen Missionary Baptist Church, is already fully leased and offering a critical lifeline to residents age 62 and older earning between 30% and 60% of the area median income.

The project is unique as the church owns the land and is providing a 65-year low-cost lease, ensuring long-term stability while creating a new chapter of community service.

Amenities include a rooftop deck with mountain views, a fitness area, community garden, and gathering spaces. All of this, just steps from retail and transit. Silva Management Partners also provides on-site management and maintenance.

“Across Denver, older adults are stretching paychecks further, delaying retirement and struggling to stay in the neighborhoods they’ve long called home,” said Danielle Vachon Bell, Development Director at MGL Partners. “From the first shovel in the ground to today’s opening, our guideposts have been stability, dignity and peace of mind.”

The $19.6 million development was financed through a mix of federal and state low-income housing tax credits, with additional funding from the City of Denver, the Colorado Division of Housing, Wells Fargo, and others. Construction started in November 2023 and wrapped this summer.

For St. Stephen Missionary Baptist Church, the project represents more than new housing, it’s a legacy.

As Rev. Randolph C. West, Jr. put it: “This community will serve as a testament to what committed partners spanning public, private and community-based can achieve together.”