Mercy retirement center in Timonium is approved

Maryland Watch

August 21, 1998

Mercy Medical Center and the Archdiocese of Baltimore announced yesterday that they have received government approvals for the Mercy Ridge retirement community and will begin to accept $1,000 deposits on apartment units.

The continuing-care retirement community initially will have 257 units but could expand to 400 apartments and assisted-living units.

Construction on the $50 million project is expected to start next summer and be completed by 2001.

It will be on the Timonium campus of Stella Maris, a long-term care facility that Mercy acquired from the archdiocese last year. Plans for Mercy Ridge were announced then.

Once Mercy Ridge has enough refundable $1,000 deposits in hand, it will begin accepting deposits of 10 percent of the entrance fee. That fee can range from $123,000 to $255,000, depending on the size of the apartment unit. The entrance fee is refundable, but residents also will pay a monthly charge.

Plans for the complex call for dining rooms, an exercise room, a chapel, an auditorium, shops and a cocktail lounge.

Pub Date: 8/21/98

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