Local leaders broke ground last week on a long-awaited development to replace the former Wayzata Bay Center shopping complex.
Presbyterian Homes and Services is building the Folkestone senior living community on the 14.5-acre site near downtown Wayzata.
Folkestone is part of Presbyterian's larger mixed-use development called the Promenade of Wayzata.
Its $125 million first phase will build two five-story buildings for ground-level retail shops and 225 senior living apartments, including independent living units, assisted living apartments, memory care suites and skilled nursing care suites.
Crews also will construct a town center with dining choices, a theater, conservatory, chapel, library and wellness center.
Wayzata Mayor Ken Willcox said the project will help revitalize retail and tourism.
The first phase will be completed by the fall of 2013, and future phases will include more senior housing and all-age condominiums.