“A New House, An Old Tradition”
The Campaign for Creighton-Vail Hall in the 21st Century

Summer Update 2010

Brothers,

We have been working hard on the House Construction Initiative for over three years!  The last year has been especially exciting, as we started to delve into the financial specifics of building a new house at 841 Fowler Street. 

Our first step in this process was to undergo a Feasibility Study, which was designed to provide us with a realistic impression of our fund raising capabilities.  We contracted with an Atlanta based capital campaign company, The Laurus Group (www.thelaurusgroup.net).  A six-month study of our database, including numerous in person visits, phone calls, and a database wide survey, was finished in April of this year.

A few weeks ago at Pig Dinner we shared with you the exciting news that the Feasibility Study results showed that we have the generous capacity of our alumni to continue with this initiative.  Thank you for working with our fundraising consultants and offering your financial support of this project.  It is truly inspiring to see our alumni’s dedication to this once-in-a-lifetime event.

As the Feasibility Study progressed, we also spent our time and effort understanding the financial specifics this project entails.  It has always been our priority that the long-term financial stability of the chapter is secure.  We ran numerous pro forma analyses through multiple scenarios, and based on the Feasibility Study results, we are confident in our long-term financial stability.

Over the next year we will be gearing up for our fund raising campaign.  Our plans include beginning the design of the new house, working with lenders to secure the loans needed, and solidifying our lead pledges.  Please continue to check the alumni website, www.gtfijigrads.com, and our Facebook and LinkedIn pages for more updates.

Thank you again for your continued support of this initiative.  If you have any questions or are interested in helping, please email me at alex.demestihas@gmail.com. 

Best regards,

Alex Demestihas
Gamma Tau ‘05
House Construction Initiative Committee Chair