Most people don’t realize it, but, Wesleyan already owns most of the former fraternity houses on campus. Wesleyan has been quietly taking them over for years. Forty years ago, my freshman year, nine of them formed a rakish archipelago of contrasting architectural styles that stretched the length of the main drag, High Street. For a small campus that had only recently accepted women, they were still the psychological center of campus, especially because many of them served food.
By my senior year, two of them had been converted to office space. A third has kept its name and functioned relatively well as a coed “literary society” until last year when it ran into trouble. Two others lead fairly conventional lives as ordinary dormitories.
Of the remaining four (DKE, Psi U, Alpha Delta and Beta), only two are in danger of losing their houses permanently: DKE and Beta. Psi U’ s national chapter has consented to its going coed. Alpha Delt has been coed since the 1970s.
In answer to your question, no other entity on this planet, but, Wesleyan has any stake in keeping those buildings in their present form. From a purely business point of view, they are due for the wrecking ball as soon as any outside interest purchases them. So, if the alum have any sentimental attachment to the physical structures at all, they have no place else to go but Wesleyan.