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Yes, ATG is actually a local fraternity based on the Stockbridge (Agriculture) School. The houses they own are part of the corporation. In this deal, I'm pretty sure ATG will survive no matter what considering that most men in the Stockbridge Program join. So a few million dollars in their bank isn't a bad idea.
Amherst is very particular, and in many cases City Hall does not abide by their own laws. There is a specific zoning for fraternity/sororit houses that I'm 100% sure that the town council will NEVER grant to any house anywhere in Amherst.
The reason the Greek community lasted at Umass for so long was the physical presence of frat row. Unmarked or scattered houses just won't be able to cut it I'm afraid.
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