The former Bournville FE College in Birmingham is to be transformed into a retirement village and will be the fifth of its kind in the city.
Bournville Village Trust (BVT) has bought the land on Bristol Road and joined forces with Birmingham City Council and ExtraCare Charitable Trust to build an OAP complex.
There will be around 200 one and two bedroom apartments for the over-55s centred around a village-style centre with a shop, village green and health and leisure facilities. The college left the site when it moved to new bigger premises at Longbridge earlier this year.
It is hoped work will start on the pensioners’ village in early 2013.
BVT has recently completed a housing complex for old people near Telford and also manages two urban villages in Bordesley and Bloomsbury in Nechells.
Its chief executive, Peter Roach, said: “This gives us a once in a generation opportunity to do something very special responding to the needs of our older community.
“Our new project will cater for the needs of people who remain relatively active right through to those who need specialist nursing or dementia care.”
The city council has teamed up with ExtraCare Charitable Trust on retirement villages in New Oscott, which opened last year, and Pannel Croft in Newtown, which is under construction.
Work started last month on a third one in Hagley Road, Edgbaston, whilst the fourth one in Shaftmoor Lane, Acocks Green, is due to go before the planning committee by the end of the year.
Cabinet member for housing, Coun John Lines, said: “This is our fifth retirement village and working with Bournville Village Trust and ExtraCare is a wonderful opportunity for our retired people in the south west of the city."
The village green will be landscaped and link Swarthmore Road and Bristol Road to create a new public space.