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I saw a document from 2017 called the UA Master Plan which said that ZBT and Chi Phi's houses would be torn down and new houses would indeed be rebuilt on 4th Street. However, that was 4 years ago, so who knows whether that is still in the cards or not. All we can do is speculate. My .02 is that Sig Tau might get a new house because they're diverse, involved, and have good grades, and UA would likely want a chapter like that to flourish because it looks good for the university. ZBT might get one for similar reasons, but they also completely renovated their house in 2012, so that might make them less of a contender.
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