Talking Stick - July/August 2015 - 65

issues, and gauge project cost.
Assessing current market conditions
through focus groups, demand
estimates, and financial analyses will
help to inform key decisions with
regard to programming and overall
viability. Such market and feasibility
studies should help outline residential
spaces and determine the advantages
of a shared community space. This

Throughout the planning process,
continual engagement with key
stakeholders such as administration,
the Greek community, and local
alumni - through focus groups,
presentations, and roundtable
discussions - will help to ease the
transition. Once project scope, scale,
location, and cost are determined,
the institution should look into the

ONCE AN INSTITUTION HAS DECIDED TO MAKE
ON-CAMPUS GREEK HOUSING A PRIORITY,
IT IS CRITICAL TO ENGAGE ALL POTENTIAL
STAKEHOLDERS IN THE PLANNING PROCESS.
will help eliminate duplication, create
efficiencies for organizations, and
provide support spaces for smaller
chapters. Housing style, unit type,
room occupancy, residential common
space, and support spaces should
all be considered in the review of a
program. Shared common space such
as community centers, if programmed
correctly, can supplement a number
of residential support spaces and
provide a cost savings for the overall
project. Community centers may
include meeting rooms, lounge
areas, additional storage space, and
multipurpose space. In addition,
community centers can play a pivotal
role in supporting the growth and
operations of smaller chapters unable
to meet the occupancy requirements
of individual houses. Although
current demand from the Greek
community, potential project costs,
and site location will play a critical
part in determining project scale,
housing should be programmed
with anticipated growth in the Greek
community. Such foresight will help
take into account chapter expansion
and/or membership growth.

most appropriate funding strategy. As
national organizations have gradually
played less of a hands-on role in
the financial support of on-campus
Greek housing, much of the burden
has fallen upon the institution itself
and individual organizations to help
bring the project to fruition. Generally
there are two avenues institutions can
choose to finance a project: developing
the project on their own or financing
it through an affiliated foundation.
Both options have their advantages
and disadvantages for the institution.
University- or college-developed
projects afford the institution absolute
control over construction quality and
assets, along with the availability of
tax-exempt debt. However, budgetary
constraints, university debt capacity,
and the debt's appearance on the
balance sheet may be limiting factors
in a project's initiation. The creation
of a 501(c)3-affiliated foundation
removes a level of institutional
control over the construction quality
and assets, but it will also remove
some of the financial barriers the
institution might face. In addition, an
affiliated foundation will still retain

the ability to issue tax-exempt debt.
In the end there may be an option for
the affiliated foundation to lease the
property to the university with the
eventuality of university ownership.
Overall, the university or college must
choose the most appropriate financing
option that aligns with the mission
of the institution and its capabilities.
Additional fees and revenue sources
such as community fees, chapter
parlor fees, and chapter housing
funds can serve as mechanisms
for supplemental revenue to aid
in operations, management, and
maintenance but should not be
expected as the primary drivers to pay
off construction debt.
Creating a Greek village can
appear to be a daunting task; however,
through diligent planning and a firm
commitment to a defined vision, a
robust program can be achieved. A
Greek village is a concerted effort
among all parties in the partnership.
A successful program can provide
tremendous benefits to an institution's
recruitment and retention efforts,
increase peer-to-peer interaction, and
provide a hub for student activity. "I
also think it's imperative to remember
to have fun and remain flexible,"
McBrayer says. "We are creating
something new from scratch, and
our departments have the students'
best interests at heart. We are open
to trying new things, assessing and
adjusting as we go along, in order
to create a strong Greek village
community. After over a decade of
researching, preparing, and planning,
we couldn't be more eager to open in
August!" 

Daniel Durack is a senior budget analyst at
Northwestern University in Evanston, Illinois.
 Daniel.Durack@northwestern.edu
Austin Metoyer is a project analyst for
Brailsford & Dunlavey in Washington, D.C.
 @BD_PM

JULY + AUGUST 2015

65
Talking Stick - July/August 2015

Table of Contents for the Digital Edition of Talking Stick - July/August 2015
