Dear Delta Upsilon Brothers:
We are writing today with a sense of urgency and optimism. The final design, construction costs, financing plan and remaining fundraising challenge for our new Delta Upsilon chapter house at UND came into focus this month. We are sharing the status of our plans and asking for your support.
The chapter house design: Our classically-designed 16,000 square foot house with three floors of living space features an all-brick exterior, two fireplaces, and sun- filled educational and social spaces that 23 men will call home. The house capacity reflects today’s Greek standards of accommodating about one-third of the anticipated undergraduate membership. It is a quality 100-year home for North Dakota DU!
Construction and project costs: The building environment is enormously challenging right now with inflation at a 40-year high and contractors busier than they have ever been. Construction costs for the new house are estimated at $5,950,000. Our general contractor has agreed to maintain this pricing until July 1, 2022. The total project cost is $7.2 million which includes the lot purchase, interest on a construction loan, furnishings, and architect, engineering, and fundrasing. Financing plan and fundraising to date: Alumni brothers on the Planning Committee have discussed with a local banker the acquisition of a 30-year mortgage of $925,000 at 5% interest and a construction loan secured by nearly $4.4 million in documented pledges and direct contributions from over 150 brothers as of May, 2022. This is an outstanding accomplishment at this point in the campaign.
An urgent call to action: Brothers, collectively, thousands of volunteer hours have been spent on this project. We are now at a critical juncture: In order to commence construction this summer, we face a funding gap of $1.9 million for which increased pledges and new pledges need to be secured by July 1, 2022. A tall order? Yes, indeed, but we believe we can meet this challenge; we must meet this challenge. With $1.9 million in NEW PLEDGES over five years, we will be able to secure the loan needed to commence construction. The consequences of not meeting this challenge will likely mean a deferral of the project for at least one year, the dislocation of our undergraduates, and the redesign of a house smaller than we require to maintain a vibrant chapter and continue the rich legacy of Delta Upsilon at UND.
How you can help: If there ever was a time to reflect on what your fraternity experience has meant to you and your career, and the value of the lifelong friendships you developed at DU, that time is now. The Planning Committee for our new home is asking every brother to stretch as far as you can to meet our fundraising goal. Pledges can be made over five years. Commitments of $25,000 or more will be eligible for a partial charitable tax deduction. Brothers making pledges of $5,000 r more will have their names on a permanent honor plaque in the new chapter house. Donors of $2,500 or more will appear in print and electronic publications.
Who to contact: If you wish to discuss a gift, please reach out to one of the fundraising co-chairs: Lynn Luckow ’71 at (415) 828-1446 or email@example.com; Rod Kirsch ’78 at (814) 777-4826 or firstname.lastname@example.org; Jim Sweeney ’86 at (701) 371-4061 or email@example.com