Kappa Alpha House Foreclosure (Chapel Hill)
 

The Daily Tar Heel reports that Kappa Alpha Order at Chapel Hill has lost its house due to foreclosure. They're trying to find alternative housing -- best wishes to them at a difficult time.

Article:

http://www.dailytarheel.com/vnews/di.../42c318f5652d6

Excerpts:

J.B. Davis, treasurer of the alumni association, [said]
“We’re going to rent another house as far as an interim until we decide what we need to do,” he said.

And even without a firm housing plan, Kappa Alpha’s status at UNC stands firm.

Jay Anhorn, director of Greek Affairs, said his office focuses more on integrity and adherence to rules and deals very little with finances.

“Finances has nothing to do with their status of good standing with the University,” he said.

Wow, they had that house for many many years. My dad's house was right across the court from KA when he was at Chapel Hill about 25 years ago, and even then KA had their house for a long time.

Best of luck to the Chapel Hill chapter of Kappa Alpha.

so sad
 

HOW did they get themselves into a foreclosure situation, if they had been there for years and years?

Re: so sad
 

I have no idea, that's why I was surprised when I read about it, unless I'm wrong and it's a different house then the one 25 years ago. But according to my father, KA and Kappa Sig have always shared the "small court" at Chapel Hill.

how sad. how sad.:( :(

how sad. how sad.

I don't post much around here, but since I actually attend the university in question, I figured I'd add what little I know. According to the article, they took out a loan for renovations right before 9/11, which severely impeded upon their fundraising efforts. The foreclosure came about because the original bank sold their bank note to a different bank, which wasn't quite so understanding about the political climate and the unexpectedly tightened purse strings of their intended donors. Hopefully, they can get back on their feet somehow...they're a strong chapter at Carolina and I've never heard of any membership or financial issues besides this rather glaring incident. Basically a whole lot of hard luck that would seem to be difficult for any organization to overcome.

As far as the actual building, the talk is that it's going to somehow be made into apartments. In "Little Fraternity Court," as that particular "neighborhood" of fraternity houses is called, Kappa Sig continues to thrive to the best of my knowledge, and the other fraternity, Zeta Psi, is getting back on its feet after some hard times of its own. It would seem to me that the dynamic of that area could be seriously altered by turning the house into apartments. This kind of thing happened to another house in "Big" Fraternity Court before my time at UNC, but there are four other fraternities in that "neighborhood" to offset the impact (I believe that that particular fraternity is actually now occupying the former Phi Mu house near campus). Anyway, this is probably all more information than anyone wants or needs, but thought I'd shed some light for anyone who is interested.

*Edited to add that, according to information I've just received, it seems that Pi Lambda Phi has bought it (they're the guys that have been living in the Phi Mu house for the past couple years) and will close on it this week. So, even though it is a very sad situation for the KAs, the Pi Lams will now have a permanent home (which will now leave two vacant sorority houses near the UNC campus).

Thanks for the info TarHeelGirl! I grew up in Durham and visited the campus several times, and my dad lived in the Kappa Sig house, so I know exactly what you mean by "little" and "big" court. It's really sad about KA, because their house has always been right across from the KS house, even 25 years ago when my dad was at Carolina.

I'm glad that KA is a thriving chapter at Carolina, and I wish them the best of luck!