The board is headed by veteran developer Sam Perry, who is donating his services to the endeavor.

And although it will be operated in accordance with the ethical and religious directives for Catholic Health Care Services, it will be open to non-Catholics as well as Catholics.

The village will include a 15-unit priest retirement community to be occupied by Roman Catholic priests of the Archdiocese of Denver. The archdiocese will invest about $2 million of funding toward the priest retirement community and a large chapel.

The village will be built across the street from Heather Gardens, an age-restricted retirement community of 3,800 seniors. Heather Gardens provides recreational services but does not provide health or support services, such as those that will be offered at St. Andrew's.

Many of the buyers at St. Andrew's are expected to come from Heather Gardens. That way, they can get more medical care with a minimal disruption to their lives.

In addition, there are an estimated 6,600 households aged 75 or above with annual income of at least $35,000 within a six-mile radius. Within a 15-mile radius, that number grows to 14,713 households.

The project will be financed by $64 million in bonds underwritten by the Denver office of Stifel Nicolaus & Co., which is headquartered in St. Louis. The tax-exempt and taxable offering will likely be made later this year.

The developer will be St. Andrew's Management Service, whose parent is an Episcopalian-based group based in St. Louis.

The Lawrence Group will be the architect and Palace Construction is the general contractor. The independent living portion will include 140 units and 15 units for the priests in a five-story building.

The village also will include 58 assisted living apartments and 58 beds in 40 units in the skilled nursing facility.