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DON'T MISS THIS MEETING ARDMORITES AND OTHER CONCERNED CITIZENS:

from www.lowermerion.org:
MEETING NOTICE
TOWNSHIP OF LOWER MERION
ZONING HEARING BOARD
Notice is hereby given that the Zoning Hearing Board of Lower Merion Township will hold a meeting as required by Lower Merion Code Chapter 155, as amended and codified by Ordinance 1802, at the Township Building, 75 East Lancaster Avenue, Ardmore, PA., on Thursday, August 30, 2007 at 7:00 p.m., at which time there will be a hearing on the following cases:
Appeal No. 4089
Applicant: SW Land Associates, LLC
Property: 130 Cricket Avenue and 24½ School Lane, Ardmore, PA 19003
(Election District #4). R 6A Residence District
The applicants propose to consolidate the rear portion of 24½ School Lane with 130 Cricket Avenue, demolish the dwelling and accessory building on 130 Cricket Avenue and seek a special exception under §155-50.2 to build a three-story 37-unit subsidized apartment house (with a minimum of 19 subsidized units) with underground parking, and, a special exception under §155-94 B to allow portions of the garage to extend within 10' of the side property lines.
The applicants also seek to the extent required the following relief: 1) a variance from §155-50.2 E to allow the subsidized apartment house within 1000' of other subsidized apartment housing facilities, and 2) a variance from §155-95 A to allow portions of the driveway and some parking spaces within the garage to be within 20' of the side property lines. The applicants contend that all the required parking spaces will be provided, but to the extent required, they seek a variance from §155-50.2 D to provide 38 parking spaces.

Cricket Ave. plans remain contentious
By Cheryl Allison

In the case of a proposed condominium development in Ardmore, the question isn't just "If they build it, will buyers come?" It's, "If they build it, will anyone be able to afford to come?"In a continued zoning hearing Aug. 8, developer Craig Snyder of SW Land Associates said he and partner Mark Weiss are willing to consider placing a deed restriction on units they want to build at 130 Cricket Ave., if that would allay Lower Merion's concerns that a number of the condos won't remain available to moderate-income buyers.
But in an analysis of a likely buying scenario, Building and Planning Director Bob Duncan presented figures that indicated no households of less than three people could swing the monthly costs of the lowest-cost one-bedroom unit.
Even with a requirement that 19 of the proposed 37 condos continue to be available to purchasers through a state home ownership assistance program, the applicant pool would be "so limited, it's not in either the public's or the [developer's] interest" to pursue the project, Duncan told the zoning hearing board.
The director of the Pennsylvania Home Financing Agency's home ownership programs, Kate Newton, did not dispute Duncan's figures.....The 130 Cricket project has been a controversial topic in Ardmore since the spring, when neighbors received notice of SW Land Associates'request for a special exception to develop the property under zoning provisions for subsidized apartment housing.....Under the subsidized housing provisions, they can receive a density bonus to permit the 37 units in a three-story building, if at least half the units are offered as affordable housing under certain federal or state grant or credit programs. Required parking also is reduced, to one space per unit.
The plans have gotten a chilly reception from neighbors and township officials, who are concerned about traffic, overflow parking, the definition of "affordable" under the state loan program, and the lack of a requirement for the affordable units to remain so long-term.
....Here are the numbers Lower Merion Township Building and Planning Director Bob Duncan presented, laying out a scenario for purchase of a unit designated as affordable housing in the proposed 130 Cricket Ave. condominiums.Based on a purchase price of $320, 000 with a 5-percent downpayment of $16, 000 and the interest rate of 6.5 percent currently offered under a state loan program, buyers would have a mortgage amount of $304, 000. (The interest rate can be lowered to 6.25 percent with payment of one point plus $320).
Principal and interest each month on that amount would be $1, 921.
Duncan said taxes were projected based on another recent comparable development, at $367 per month.
Homeowner's insurance would add $80 per month.
Private mortgage insurance ups the cost another $200 per month.
Finally, with "a very conservative figure assumed, " a condominium fee of $100 per month was added.
The total monthly payment: $2, 688

Hmmm, does anyone you know on a fixed budget able to afford monthly payments of approximately $2688 before utilites, food, medicine, insurance, and so on and so forth?