[TarHeelGirl]

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).