Sorority House Renovates

by Talk Business & Politics ([email protected]) 76 views 

The Chi Omega sorority house at the University of Arkansas received a $455,000 mortgage from Boatmen’s National Bank of Northwest Arkansas in Fayetteville on April 23.

The loan is secured with the sorority’s house at 940 Maple St. The 26,913-SF, three-story building was built in 1935 and is listed on the National Register of Historic Places. The building was appraised at $858,300 ($31.89 per SF) in 1995.

The money will be used to make improvements to the building. Plans include an addition and renovation to a stairway, a new fire sprinkler system, an upgrade of the fire alarm system, a handicap access to the first floor of the building and other minor renovations.

A building permit was issued April 14 and work has begun. The estimated cost of the renovations is $231,500 and is being done by Hunnicutt Construction Co. Inc. of Fayetteville.

The sorority owns the building, but the land is owned by the university.