I'm glad this thread was bumped. I haven't been around for quite a while and completely missed it. I'll tell y'all what I know -- or at least to the best of my knowledge/recollection.

Please forgive the length of this post, but there's a lot of info to share.
Last April I attended a Chapter Advisor meeting put on by the now former Assistant Dean of Student Life and Greek Advisor. According to him Admin plans to grow the University student population to 29,000 by the year 2009. I believe he said it was currently (2006-2007 school year) at 22,000.
Due to the student population growth and increased interest in going Greek, for the past few years the total number of pnm's has increased dramatically. As such quota's keep going up and as has already been reported, Chapter Total was increased this past year from 150 (which was just increased the year before from 140 I believe) and is now at 180.
Admin and Panhellenic realize that we've sustained this growth with no indications of changing and therefore we need to expand through colonization. Here's the problem, offering any incoming sorority a site to build on and/or comparable housing. The NPC rumors I heard from my own NPC Delegate where that every sorority not currently on campus would love to colonize, but they know it's going to cost a lot of money to build a house and on this campus to have any hope at success a sorority needs a physical house.
This summer (2007) the University is implementing some major changes to driving and parking policies. How is this relevant to sorority expansion? Just wait, I'll get to that. First off they're putting in a major mass transit bus system for all students to use. Certain streets and lanes will now only be used by these busses. A lot of the street parking will be eliminated for these bus lanes.
In addition, the parking policies and permits are being majorly revamped too. For example, all commuter students will now have to park in one of the outskirt lots then us the bus system to get to class (or walk). Some lots are being eliminated, others just changing who is allowed to park there and there is supposed to be a new parking deck going in with one of the new dorms being built. While a lot of these changes are being implemented this summer, some of the will occur over a couple of years.
Now here's how this affects sorority expansion. For those who know the layout of the University or look on the map provided in an earlier link, the University plans on taking part of the parking lot behind the Chi O house which is behind Magnolia Drive and allowing sororities to build there. It was not clear how many lots/sites would be made available. The former GA did say that these new lots would be offered first to the existing sororities on campus if anyone wishes to build a new house. He did not say how many may be interested and if there were more interested than lots available, how the selection process would work. An existing sorority could then sell their old house to one of the (anticipated) colonizing groups.
This land usage proposal is part of an overall long term major campus plan that according to the GA was to be presented for approval to the Board of Trustees at this summer's meeting. I have not heard the outcome of whether it's been approved, rejected or changed. If approved, the GA anticipated starting the colonization process in the Spring of 08. He said the UA would first look to any sororities that had been on campus previously before going to any other groups. Depending on the speed of the process (which I have no idea how long this normally takes), he would like to see at least 2 new groups come on campus by the fall of 2008, but as I recall he felt fall of 2009 was more realistic.
That's what I have been told folks. Just please keep in mind that it might not be accurate any more because as we all know major plans like this can change.