Kraus-Anderson Construction will build a $24 million nursing facility for Lakeview Methodist Health Care Services in Fairmont, Minn.

The 72-bed facility will be the third in Martin County aimed at short- or long-term stays, officials said.

Located on Lakeview Methodist’s campus, the new building will offer greater state-of-the-art amenities for aging baby boomers and their parents.

The two-story 86,000-square-foot facility was designed by Wold Architects, and will be built by Kraus-Anderson. Construction should be completed by fall 2021.

The project is the latest for Minneapolis-based Kraus-Anderson, which owns commercial retail properties in St. Paul’s Midway and builds about $1 billion worth of hotel, school, government, office and apartment projects each year in Minnesota and Wisconsin.