Presby's Inspired Life on Tuesday announced plans for a $75 million expansion of Rydal Park, a retirement community in Abington Township.

The development, called Rydal Waters, is expected to add 85 two-bedroom cottages with garages. Construction will start after 70 percent of the residences are presold, said Presby's, a tax-exempt provider of continuing-care retirement communities and affordable senior housing in Southeastern Pennsylvania.

Rydal Park already has 307 independent-living apartments in four contiguous buildings on its 20-acre campus.

Presby's borrowed $8 million in 2008 from an affiliated foundation to purchase the 33 acres intended for Rydal Waters, according to a financial statement.