SAE F&H is currently involved in the most ambitious, hands-on housing program in its history.
Following are a few of the drivers:
- Changes in on-campus housing programs that provide competitive “suite-like” accommodations,
- Housing needs generated by the re-establishment of closed chapters and newly chartered chapters;
- House Corporations struggling to find new energy in younger members and /or that have burned out;
- Changes in local building codes and issues associated with risk management requiring additional housing investment.
Collectively, all of these make F&H’s involvement critical to the longevity and success of many chapters. A major part of the F&H program is that which provides assistance, information, and support for chapters and house corporations.
F&H has created its housing development business model to more effectively and efficiently manage each potential housing acquisition. This current and evolving F&H process is used to engage, assess and implement a housing development opportunity.
The process begins with a joint assessment of all aspects of the housing opportunity by F&H and the chapter’s house corporation. Aside from the physical and financial attributes, the assessment evaluates the House Corporation’s, the alumni’s, and the chapter member’s support for the project. The unqualified support of all three entities is a major dependency on the success of the project and, therefore, F&H’s willingness to go forward.
If the assessment phase produces a mutually beneficial opportunity for F&H to manage the project, the result can be a transfer of title followed by a renovation of the property. Key to the assessment is the financial costs projections as well as the involvement and financial commitment of alumni. When the assessment indicates a large financial commitment by alumni, the engagement of a fund-raising firm (e.g. Pennington) is essential. The fund-raising potential of the body of alumni is validated through the firm’s feasibility study. Experience dictates that the entire project can hinge on the success of the entire fundraising initiative.
A renovated or ground-up new chapter house generally includes all the modern features of university housing and is the conclusion of a successful Housing Development engagement.
HERE is a short video of the impact that our development has had on properties that we own.
Greek Housing Management, LLC (GHM) is engaged to manage the property.
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