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Use a router lift to determine the dimensions for cutting out the hole in the router table top, which will be made from melamine. Make two cuts in the piece of melamine: first cut out the hole for the router lift, then use a trim router with a rabbeting bit to cut a lip inside the router lift hole. Make sure the lip is the correct depth to support the router lift so that the lift stays in place and is flush to the table top. Screw a piano hinge onto one edge of the sheet of melamine.
Make the support for the router table out of three pieces of wood -- two legs and a cross brace that runs between them. Build the legs to the height needed. Attach hinges to the top of each of the legs. The hinges will attach the legs to the top of the table.
Attach a ledger to the wall where the table will be mounted, then screw the other half of the piano hinge to the ledger. Screw the leg hinges underneath the piece of melamine. The table should be able to fold up against the wall. Use a hasp from the hardware store, or use a couple of blocks of wood to act as the lock for the table.