Mermaid Lake Swim Club, which was slated for development as a residential community, will instead be acquired by Whitpain Township and remain a recreational facility, writes Natalie Kostelni for the Philadelphia Business Journal.
The township officials reached an agreement with Metropolitan Development Group to buy the property for $8.2 million and maintain it the same as it has been for nearly six decades.
Last year, the developer acquired the property for $3.2 million to build 52-single-family houses there.
The club has been a presence in the Blue Bell area since 1961 providing several generations of families with a place to swim, play golf and a place for kids to attend day camp. The property also has a space where families can enjoy picnics and other special occasions.
Last year, the township looked for ways to preserve the property and protect the land from development. Then last week, after township officials approved a resolution to use eminent domain unless a sale is agreed upon within 30 days, the township and the developer completed negotiations on purchasing the property.
Read more about Mermaid Lake Swim Club at the Philadelphia Business Journal by clicking here.
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