The Pi Lambda Phi house is slated for renovation this summer following an extensive review of the property, located at 3914 Spruce St.
The house is considered to pose "immediate and serious structural, health and safety issues [that] present significant ongoing risks to the residents," according to a statement released by the Office of the Vice Provost for University Life in early February.
Several structural and safety issues, such as weak masonry and termite damage, were cited in a report by a University-hired architectural firm.
The residents of the fraternity house -- which is neither owned nor managed by the University -- were subsequently notified of these findings.
"The people in the house agreed with the University that it would have to be up to [the University's] standards," Pi Lambda Phi Rex and College junior Michael Nierenberg said. "There's going to be some sort of inspection involved."
The residents will continue to remain in the property until the spring semester is over.
Although final arrangements are not yet set in stone concerning the renovations, Nierenberg noted that the University has offered to help in the renovation process.
"Next semester, we're going to be operating as usual after the renovations are complete," Nierenberg said.
InterFraternity Council President Conor O'Callaghan applauded the initiative.
"I'm glad to hear that Pi Lam is taking the necessary measures to bring their house up to code," the Engineering and Wharton junior said. "It would be a real shame for any fraternity to lose their house, especially because of structural reasons."
"Pi Lam has been very cooperative throughout this whole process, and I'm sure their leadership will take every measure to make sure that they're in compliance with the University's housing regulations," O'Callaghan added.
