Over the decades, the fraternity house has been a place many of us called home as our residence. For others, it was a home away from home while we were undergraduates and a figurative home as alumni. Over the past 10 to 20 years, the house has continued to require increased alumni funds as undergraduate brothers have invested less time and attention to its maintenance. This occurred as the active chapter increased in size beyond the capacity of the house. In simple terms, the house was much too small to support a fraternity that consistently numbered over 80 men and about 120 when we lost our charter. Numerous Boards of Directors have been engaged in discussions for decades about the cost of the house, whether or not this continues to meet the needs of both the alumni and active chapters, and if it represents the best use of this asset.
Today, the house can likely be sold for nearly $500,000 and the balance on the mortgage is below $38,000. The current Board of Directors and Advisors to the Board have identified several opportunities for the use of the house. We will continue to gather more information to ensure we understand all available options as we pursue a decision on the best use of this asset. While the ultimate decision of the disposition of the house rests with the Board, we invite your thoughts. You also may navigate to this page and send an email directly to any of the Alumni Officers if you prefer.
Thanks for your assistance.