The old Collegeville Inn is ready for a new life.

How many times have you driven by the inn, glimpsed the over-sized wooden bear and the empty parking lot and wondered what was to become of the once-popular dining spot?

Well wonder no more.

The Lower Providence Township Board of Supervisors has approved the land development plan for a senior living facility at the site of the former Collegeville Inn. The existing building – a structure familiar to many – will be remodeled and join a new addition to form the Providence Place Senior Living, according to a press release from the township.

“The Board of Supervisors has worked to bring thoughtful redevelopment to Lower Providence and we are excited to welcome this new business partner to our growing Township,” said Jason Sorgini, Board vice chairman.

The restored Inn building will serve as the main dining room and activities space for residents and as office space for staff. Newly-created spaces within the renovated building will include a spa, community room, resident pub, activities room, and deck overlooking the Perkiomen Creek. The new two-story addition will house 113 resident apartments of varying size and styles.

The Providence Place community will offer residents a continuum of care, ranging from minor assistance to significant daily aid, with a separate memory support component.

Groundbreaking is anticipated for later this month. Horst Construction, a Lancaster based firm, has been selected as the general contractor. The community is part of the Leader family of senior care companies that operates five other senior communities in Pennsylvania. Former PA Gov. George M. Leader and his family founded Providence Place in 1998.