Posted on 06/19/2006 4:26:25 PM PDT by FlJoePa
Abbey's $3.5 million gift boosts Beta house restoration and Greek pride initiative
Monday, June 19, 2006
University Park, Pa. -- Penn State alumnus Donald G. Abbey has raised to $3.5 million his commitment to fund the restoration of the Beta Theta Pi chapter house on Penn State's University Park campus.
Last year, Abbey, a Beta brother, gave $1.2 million for what he called "a complete roof-to-cellar makeover" of the house, home to the University's second-oldest fraternity. The gift also represented a cornerstone in Penn State's Greek Pride: A Return to Glory initiative, an effort to enlist stakeholders in a comprehensive process intended to enrich the Greek experience for Penn State students by strengthening the relationships between fraternities and sororities, their alumni and national organizations, the University and the community.
"Don's additional commitment to Beta Theta Pi will serve as the model at Penn State as we work together to provide an enhanced experience and build a stronger and healthier Greek community," said University Vice President for Student Affairs Vicky Triponey. "The restored Beta house will not only be a beautiful home for its brothers, but also a symbol of the intrinsic values of all Greek organizations, including scholarship, leadership and service. We're pleased to see strong re-engagement by alumni from several fraternities and sororities as part of the Greek Pride Initiative."
Penn State boasts one of the largest Greek systems among universities nationwide, with more than 85 registered chapters and 4,000 collegiate members each academic year. About 1,600 members have passed through the Beta ranks since the fraternity was founded at Penn State in 1888.
Donald G. Abbey is chairman and CEO of the Abbey Company, a real estate investment and management company based in Long Beach, Calif. He said he increased his commitment in order to complete a restoration of the house to its original condition, with updated enhancements and a strengthened infrastructure.
Located at 220 N. Burrowes Road, the house was built by the Betas in 1929. The restoration project impacts every part of the house: plumbing, electrical, security, floors, walls, ceilings, sprinklers, roofing, bathrooms, study areas (complete with internet access, copiers, and fax machines), landscaping, increased parking, kitchen additions, new heating and air-conditioning equipment, new furniture in every room, major appliances and more. The work is scheduled for completion in 2007.
"This is the single most significant gift in the history of the entire fraternity system, and is the most significant restoration of any fraternity chapter house in America, ever," said Jonathan Brant, director of the Oxford, Ohio-based Beta Theta Pi Foundation. "The entire fraternity world knows and is excited about it." The project started after Abbey visited the house in 2004. He noted that it had suffered from 75 years of constant use.
"When I was in school it was a challenge to balance my classes and football schedule," he said. "The Beta house offered me a break from the daily pressure, where I could live in a beautiful structure, relax and enjoy the camaraderie of fraternity life. After graduation, as I focused on my career for thirty years, the image I retained of the house was of the magnificent structure and the elegant style of living I'd experienced. So when I returned and saw that the house had regressed, and considering that my career has been in repositioning of real estate, I felt that action was required. It was the best chapter house on campus in my day, and I want to ensure that it remains so in the future."
Abbey selected a committee of twelve undergraduate residents of the house to ensure that the newly restored areas are maintained in top form.
"Several members of the committee have been involved in essentially co-managing the project with me," Abbey said, "working with the architect, subcontractors and skilled craftsmen. These students have been exposed to real-world project management, including financial decision-making, and have gained an invaluable experience."
He also noted that he is establishing the Abbey Leadership Foundation to safeguard the maintenance of the house for future generations, and to provide for educational initiatives such as leadership seminars, scholarships, mentoring and other creative means to expand the Betas' undergraduate college experience and preparation for life after graduation.
Abbey graduated from Penn State's College of the Liberal Arts in 1970. He attended the University on a football scholarship and was starting fullback for the Nittany Lions. After graduating, he was drafted by the Dallas Cowboys, but chose to attend graduate school and then to enlist in the United States Navy. He entered the real estate business in 1976. Since its founding in 1990, the Abbey Company has grown to manage and lease a portfolio of office, industrial, and retail properties. The company has 120 employees, 100 percent ownership of 44 properties, and more than 4.1 million square feet of commercial space with over 1,000 tenants.
I like the Fiji house.
3.5 Mill?
huh? You could knock it down, build a 15 story mansion for that.
THE GODFATHER! THE GODFATHER!
$3.5M donation for a FRAT HOUSE. That sure advances scholarship at PSU.
I always thought we had the most beautiful house. From what I've seen of it lately, they could sure use $3.5 million - and maybe that might not be enough!
Chi Phi, btw - on the corner of Pugh and East Hamilton.
When I went to college there were the various frats, the grades one, the "preppy" one, the jock one, etc.
I really didn't fit in any except the one that wasn't very particular. During pledge week, I visited for about 10 minutes. I thought "What a bunch of loser dickweeds". I guess Frat life wasn't for me.
I'm thinking the bulk of the money will be used to fund the foundation that will maintain the building. The interest off of a couple million should be sufficient to maintain the building and its immediate grounds with money to spare.
I only know the Fiji house. Spent a summer there.
your brothers thank you
....its been chilly at night
oh come on......"loser" is kinda harsh
(sarcasm)
What a generous and neat idea this gift is. Giving back from whence you came is a real treat and I hope these young men rememer that when it is their turn.
I'm embarrassed to mention my fraternity at Penn State. We were considered a zoo house and richly deserved the appelation. Here's a hint: the only house with a swimming pool (because the original house was razed and instead of filling in the basement hole, it was made into a pool).
There were some beautiful houses there. I probably did something outrageous in most of them. Dang I miss being a kid sometimes.
Yeah, but I bet in 2 days it will have that weird too-many-boys-live-here smell.
Pink Elephant? Phi Who? I remember the pool. Can't remember the name of the house.
Just buy them $3.5 million of beer and they won't notice the place needs renovating.
Sorry, I think it's a waste of dough. There will be no "return to glory," thankfully. Frat and sorority houses are so 20th century.
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