Look, it's pretty simple. Land is valuable, homes are not. Your "home value" is essentially the value of the land. Because these fraternities do not own their land, they are basically paying into a mortgage with 0% return on investment. FSU owns the land and shared the burden of developing this land with you. Basically if HG is a company, FSU own 51% of all stocks. True, they cannot just kick you out, but if they have immenent domain...good luck fighting the government. Considering FSU's master plan and inflation (over 15 years), I say by roughly 2022 you will be asked nicely to vacate your premises and recieve a check in return which will be worth about 10% less then what you paid to have these houses built and maintained. In the long run....this is a BAD DEAL for 2 reasons 1.) no return/loss on investment and 2.) No way for you to get out of this contract. But stay optimistic...memories are forever!

Tell you what: our alumni own the house with a 50-year lock lease on the land that specifies the alumni can do whatever they want to do with the house whether the chapter is in it or not. In 50 years, maybe we'll build another house. Or maybe in 90 years. Without the contract, Pike, Phi Delt, Sig Ep, ATO and LXA would not have signed on for HG.

Dig a little deeper. Owning land is what is most important. If any of those chapters at H-grove who "own" homes get kicked off, good luck. The point of this discussion is that you do not own the land, which is a HUGE deal if a chapter runs into trouble. By the way, who sits on the board for the LCEHA? May want to look into that before you reply.

Just so you know, one reason the big fraternities agreed to build private houses at H-Grove was construction of a legal firewall between the land and FSU. Our lease is with the Leon County Educational Housing Authority. If the Pikes or the Delts get kicked off, alumni still have complete control of the house until they're reinstated.
Pikes and Delts both have good deals: Pikes have a new house; Delta have location.

keyword being lease. who are the landlords? FSU. You may own your own house, but when you get kicked off again, its gonna be a little difficult to get it off that land.

Pike alumni own their house, and have a 50-year lease on the property with options for 40 years more.