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On my campus (WVU) the school is trying to buy all the fraternity houses. Right now about half have either been purchased or are in the process of being purchased by the school. The other half are adamently opposed to selling their house to the school.
The school says they are buying them in order to help fraternities. They plan on renovating them and making them nicer...
However, I have the feeling that is BS. My campus is hungry for new space, especially dorms. Frats occupy some prime real estate. Additionally the school is not offering to pay even close to the appraised value of the house, only about a quarter. The school then sets the housing capacity and reserves the right to move in random people if the chapter can't fill the house. They will also move in an RA to oversee the house. The fraternity will have first rights to purchase the house should the school decide to sell it...however, I'd bet my left nut that it would be at the then appraised price and not what the school originally bought it for. Meaning we could never afford to buy it back.
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