From The Philadelphia Inquirer, Sunday Morning, October 20, 1963.
Cayuga Federal Savings and Loan Association has agreed to provide permanent financing up to 90 percent to individual buyers in University Mews, 46th (sic) and Spruce sts.
The mortgages are of the conventional type and run for periods ranging up to 30 years.
Robert B. Speetles, Cayuga vice president, said his institution also was financing the construction of the group of 46 town houses in the amount of $840,000.
The more favorable terms to buyers, he said, were facilitated by recent Federal regulations "opening new fields of home mortgage lending by recognizing the importance of in-city building.
"We have felt for some time," he said, "that urban living was in for a great resurgence. There is a future in town houses. University Mews is a positive step along the right direction.
"Not only do we feel the location and the individual homes being built are good values, but we also look to a good future for condominiums in high density city areas."
University Mews offers a variety of floor plans in homes arranged around a carefully landscaped and brick-paved commons. A number of the initial residents are members of the faculty or administrative staff of the University of Pennsylvania.
The community was designed by Ronald C. Turner for developer Maurice Hertzfeld. It is the first major project in a certified redevelopment area to be constructed without the use of Federal funds.