flea

The Looniversity has just announced its purchase of 15 large houses in my neighborhood from the local student slum landlord extraordinaire (and alumnus). Their plan is to honor any existing leases held by tenants, but not to renew any leases or contract new ones, and to look for single-family owners interested in renovating the houses to purchase them. These particular 15 houses include most of the most notorious frat party houses off campus, many of which have been occupied by the same frat for the past 15-20 years. The students are a little amazed. I am a little gleeful. I am sure the Looniversity, despite spending $3.7 million for these places (most of which are at least 4 bedroom) is gleeful too, since real estate prices in my neighborhood are bucking national trends and accelerating - a nice house around the block is for sale for $750K, which given our crime rate and the fact that it's across the street from an apartment building is pretty incredible. They'll probably make a bundle on gentrifiers.

The only bad news is, MY Frat Boys Next Door are unaffected by this purchase. But I am gleeful for my neighbors. I *knew* that when the Provost moved in 2 houses down from the most notorious corner in the neighborhood, we'd see some change.