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Beaver Valley Tract In Delaware County Will Not Be Flipped Into Housing Development

DELAWARE COUNTY (CBS) -- The Beaver Valley tract in Southwestern Delaware County will not be developed after all, a group of regional environmental organizations has reached a tentative deal to buy it from real-estate developers who had some big plans for the land.

The 240 acres, adjacent to the First State National Historical Park in Concord Township, is now under an agreement of sale to the Conservation Fund, based in Arlington, VA, the Brandywine Conservancy and the Mount Cuba Center in Delaware.

Blaine Phillips, a regional director for the Conservation Fund, says the tentative agreement squashes a plan to build more than 150 homes on the site.

"These negotiations took many, many months. In fact, we started to negotiate on an agreement well over a year ago and we finalized it. It was a long road, but worth it in the end."

Phillips did not disclose the sale price, but did say the groups now need to raise $8 million to bring the deal to settlement by next spring.

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