Redwood Retreats, situated on the Linlathen Estate to the east of the city, will provide 60 luxury retirement homes in landscaped grounds.
The development, worth £15m, is being undertaken by Muirfield Contracts and will create up to 50 construction jobs.
The first apartments are expected to be ready from 2014 and will have easy-access bathrooms as well as 24-hour monitoring. On-site care will also allow residents to stay in their own homes.
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A spokesman for Redwood Retreats is quoted as saying: "This is the first development of its type in central Scotland. The accommodation will be of the standard of a luxury hotel. There will be community facilities including a first-class restaurant.
"We anticipate that the majority of those buying an apartment at Redwood Retreats will be active, retired people who are looking for an easily maintained home, set in beautiful grounds where they can live independent lives.
"But needs change and a retirement community can cater for these needs. People who buy at Redwood Retreats will probably avoid the need for a care home later in life."
(JP/MH)
