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New development to offer lifelong learning in retirement

Collegeville Communities, St. Cloud, Minn., announced today that it has received approval from the Board of Trustees at the College of Saint Benedict, St. Joseph, Minn., to build an academic village on approximately 10 acres of land situated on the college campus.

An “academic village” is a housing development for seniors and pre-retirees that is built on or near a college campus and that provides a conduit for access by residents to campus facilities, activities and learning opportunities. According to Colleen Hollinger Petters, president, Collegeville Communities, the development will cater to a growing number of retirees and pre-retirees who are looking for an active retirement lifestyle that is grounded in the concept of lifelong learning.

“Recent research shows that people long for a more active retirement lifestyle today than in the past,” said Hollinger Petters. “The academic village concept allows us to create high-quality homes that offer options for aging in place, while nurturing the growth of a community that supports and thrives on lifelong learning. It’s a win-win for everyone involved.”

Collegeville Communities, which has developed and currently manages academic villages in Northfield and Winona, Minn., has entered into a purchase agreement for approximately 10 acres of land located on College Avenue (bordered by Callaway Street) in St. Joseph. The company estimates that 50 residential units will be built on this site.

Although the architectural style is yet to be determined, Hollinger Petters noted that the company will work closely with the master planner for CSB to ensure that the development reflects the lifestyle and avocations of residents, while drawing on the historical elements of the prairie region that are architecturally desirable.

In expressing support for the project, CSB president MaryAnn Baenninger stated, “At the College of Saint Benedict, we are committed to fostering integrative learning, exceptional leadership for change and wisdom for a lifetime. The partnership with Collegeville Communities furthers our commitment to lifelong learning, as well as our relationship with alumnae and the community in which we reside. Not only is the new development a natural fit with the mission of the college, but it will make learning at St. Ben’s more accessible to the community.”

According to Hollinger Petters, Collegeville Communities will partner with CSB to create educational opportunities and to identify other benefits for residents of the new community. The development is designed for people who are 55 and older, although a limited number of residents can be 40 years old. Residents do not have to be CSB alumnae.

The location offers easy access to downtown St. Joseph — which is also undergoing renovations and growth — not to mention its proximity to campus classrooms, Saint Benedict’s Monastery, and the newly expanded and remodeled Benedicta Arts Center of the College of Saint Benedict.

Collegeville Communities anticipates breaking ground on the new development in spring 2007 and completing the first units by late fall 2007. Estimated cost per unit is not yet known.