Sanguine et Purpure , The unofficial blog of Sigma Phi Epsilon, is reporting that North Carolina state university "will soon start tearing down the aging boxes that line its Greek Court and replace them with a $104 million Greek Village."

According to the blog, NC State is planning to tear down the old and decrepit Fraternity Court that now exists and begin construction on the new Greek Village this Spring. But construction of the new buildings could take as much as a decade. Fraternity Court's frat houses were built during the 1960's and the school rents them to Greek organizations at the moment.

Once then new buildings are finished, the fraternities and sororities will own their buildings out right. That means the university will not be liable for their upkeep.

You can get much more detail on NCSU's plans at Sanguine et Purpure.