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