Developers have built senior communities near the University of Texas, the University of Florida, and Penn State, among others. Lasell College in Newton, Massachusetts has an on-campus retirement community called Lasell Village. (Photo: Shutterstock)

(Bloomberg) –A growing number of retirees are opting to spend their Golden Years living close to a university campus. Or, in the case of Purchase College, on it.

Later this month, a non-profit organization affiliated with Purchase plans to sell $14.5 million in unrated tax-exempt notes to begin development of a 385-unit retirement community on its 500-acre campus. Known as Broadview, the community is on a 40-acre parcel near the college’s performing arts center and Neuberger Museum of Art.

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