Whitpain Township announced today that its Board of Supervisors has reached an agreement with Metropolitan Development Group to purchase the Mermaid Lake property for $8.177 million and preserve it for recreational use. Metropolitan purchased the 63.5-acre property with the intent to build a residential housing development. It is paid $3.2 million for the property in 2019.
As AroundAmbler.com reported on July 22nd, the supervisors voted to approve a resolution to take the Mermaid Lake property by eminent domain unless a purchase agreement and closing could be completed in 30 days. According to the announcement, township officials and representatives of the developers completed negotiations and are finalizing paperwork on the sale agreement.
“My fellow Supervisors and I are pleased to announce the permanent preservation of this property for the enjoyment of our current residents along with generations to follow,” said Supervisor Chair Michele Minnick. “Our community felt deeply on this issue and we were determined to do the necessary work to save it from development.”
Prior to the agreement, the developer had planned to seek approval for a 53 home residential community and a billboard facing the Blue Route.
The agreement requires the developer to demolish several structures that are in disrepair and erect fencing. The combined cost of this work adds $177,620 to the acquisition price.
The township’s initial plan for the property is to open trails and meadows for public use. Additional uses for the property will be determined through studies and public discussion.
“We intend to utilize this space for recreational purposes. Shortly, there will be access for residents to enjoy walks and jogs along mown paths,” said Minnick. “We plan to form a committee to analyze potential uses and gather community input as we envision our future for this wonderful property.”