On my campus (Mercer Univ) every fraternity and sorority has their own on campus house. Our Greek Village was built 2 years ago. All of the houses look the same on the outside with only slight variations. I think it is really great. Everyone is right next to each other, and it is only a short walking distance from house to house. I think it does a lot to foster intergreek relationships. We do a lot of stuff in the Greek Village as a Greek community. For example, the week before Halloween we had a Harvest Fest where every GLO had a table with some sort of craft or candy for community kids. And then last week during Chi Omega Week, there was a house decorating contest with Christmas lights. It was awesome to see the whole village all lit. ( it was also great to see the Chi O letters in lights in front of all the houses. . . but that's beside the point
) I think it does a lot for our relationships with other GLOs that we each have a house but they are all right next to each other on campus. You also don't have the problem with XYZ fraternity having a better house than 321 fraternity. It works really well.