Since its inception 94 years ago, Ohio University's Phi Kappa Psi fraternity has been a nomadic group, leasing houses in several places within Athens. However, this past summer, the once wayfaring group of 85 members finally purchased a location they can call home.
Since its inception six years ago, Ohio University's Phi Kappa Psi fraternity has leased a house in Athens. However, this past summer, the group of 85 members finally purchased a location it can call home.
Last year, Phi Kappa Psi's lease for its fraternity house was not renewed. Rather than resume its frequent property searches of years past, the fraternity's housing entity, CPT Moore Housing Corporation, purchased a house at 8 N. College St., a block away from last year's residence. For greek organizations, a housing entity manages the fraternity or sorority's property decisions and is quick to step in when the group's future whereabouts are unknown, as in this case. The house has 10,000 square feet of floor space with 21 bedrooms and is covered in red brick.
Of OU’s 21 fraternities and sororities with chapter houses, Phi Kappa Psi's purchase makes it the 16th to own its own property, leaving five who still rent. The house was bought for $1.35 million.
In accordance with OU’s greek life regulations, the house will be alcohol-free.
“Anyone can agree that when an organization has a place to call their own, they function better,” said Matthew Kifle, vice president of CPT Moore Housing. He worked with a group of alumni to make the purchase a reality.
“There (is) a sense of ownership, a sense of space and, from a chapter standpoint, a sense of credibility.”
Financing the buy was difficult, but a combination of undergraduate dues and alumni donations convinced Cannonsburg Corporation, Phi Kappa Psi's national housing corporation, to fund a $250,000 down payment for the house, Kifle said. Plus, the CEO of Heartland Bank, Scott McComb, an alumnus of Phi Kappa Psi, offered financial support.
“I was unaware they were looking to purchase a building when they reached out to me to help craft a solution,” McComb said. “(Phi Kappa Psi) is a very strong organization and is a life-long endeavor. Having a building to call home is paramount to growing young men's character during these very formidable years of their development.”
Kristen Kardas, OU’s assistant director of greek life, echoed McComb’s sentiment about the new house, saying, “It is my impression that those who own their properties may sometimes have more freedom in terms of design or making other updates to the facility.”
In early August, the fraternity moved in, with students and alumni sweeping away cobwebs, painting, and furnishing the house for the fraternity's needs, Kifle said.
“(Now) it's a beautiful, long lasting, accommodating house with a huge patio,” Kifle said. “I'm very excited for the year to start. ... We're all ready to roll.”
Brad Green, Phi Kappa Psi's chapter president, also expressed his satisfaction with the property, crediting it as “essential to (the) success of greek organizations, especially here at OU.”
“All of the undergraduates are thrilled to have a place to call their own,” Green said. “A lot of hard work was put in by our housing corporation, and many generous donations of time and money were made to help make this possible."
With its new home, the fraternity will continue to hold its many philanthropy events, including the Phi Psi 500, a week-long event benefitting local schools.
The group has also opened the discussion of working with the Ohio University Police Department, its new neighbors.
“(We) look forward to continuing to build positive relationships and moving forward,” Green said.
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Correction: An article on Tuesday’s fourth page stated Phi Kappa Psi has been at OU for 94 years. In fact, they've only been here six years. The "Moore Housing Corporation" was incorrectly identified as the "CPT Moore Housing Corporation.” Cannonsburg Corporation is the fraternity's national housing organization. Scott McComb was misidentified as an alumnus of OU. He graduated from Ohio State University.
