PMMA Breaks Ground on $140M Aberdeen Ridge CCRC in Colorado Springs

COLORADO SPRINGS, Colo. — Presbyterian Manors of Mid-America (PMMA) has broken ground on Aberdeen Ridge, a continuing care retirement community (CCRC) campus in Colorado Springs.

In 2018, PMMA acquired a Texas nonprofit corporation, which owned an undeveloped 15.3-acre site within Garden of the Gods National Park, and which already had the permits and approvals for a senior living community.

Aberdeen Ridge is scheduled for completion in 2023 and will feature 171 one- and two-bedroom independent living residences, 40 assisted living apartments and 24 memory care suites. The homes will vary in size and will start at a monthly fee of approximately $3,650 and an entrance fee of about $375,000.

Ziegler arranged $140 million in bond financing through the Colorado Health Facilities Authority for the project. Greystone served as an advisor in the planning of the community.