"This 4.4-acre parcel is the very last of the original estate," said Scott D. Cook-Sather, who lives next to the meadow on Aubrey Road.
He and his neighbors heard from a real estate agent that a developer was interested in buying the land and building as many as eight houses.
"It had been open space forever," said Cook-Sather. "The thought of any development was scary."
So they got together and came up with a brainstorm: What if the neighbors bought the tract and created an easement with the Lower Merion Conservancy that would protect the land from future development?
"We had a wonderful opportunity to preserve it. And we have," said Cook-Sather, a spokesman for the group that calls itself the Pasture Partners.
Eleven people from five families, four of them neighbors, united to save the meadow - or most of it. The fifth owner is related to one of the families and plans to build a house on about half an acre of the land.
Some of the families have lived in the area for 40 years or more and remember when the meadow was part of a working farm, said Cook-Sather, who was elected spokesman so the others could remain anonymous. He said the four neighbors couldn't afford the property without including the fifth who wanted to build.
"It's going to be a very small house, a green building on half an acre," Cook-Sather said.
While he declined to reveal the selling price, he said, "As you can imagine, this property came at quite a premium because of pressure to build on it."
For the Lower Merion Conservancy, which works to preserve open space in the tightly packed affluent township of 58,000 people just across City Avenue from Philadelphia, the easement was a coup. Just 5.8 percent of the township is public parks or privately protected land.