Delta Sigma Phi, a fraternity that operated at UNC from the mid-1920s until 2001, will be fully operational again in the fall of 2002.
But Phi Mu sorority will close in May -- a victim of the same financial woes that forced Delta Sigma Phi to shut down last year.
Delta Sigma Phi voluntarily closed in May 2001 because the chapter had difficulty recruiting new members.
Jay Anhorn, director of Greek affairs at UNC, said Phi Mu was unable to recruit enough members to pay the rent and upkeep of the group's main house, a smaller house and a house director's cottage.
"Last week, the chapter voted themselves to close down," Anhorn said. He said the decision was made by the chapter alone and not by the national Phi Mu organization or by the University.
"A lot of times organizations feel it's better to close on good terms and try to come back later," he said.
Anhorn said the local Phi Mu chapter plans to rent out its house on Henderson Street for two or three years and then try to regroup -- just as Delta Sigma Phi successfully did this semester.
At the same time, Anhorn said he was excited about Delta Sigma Phi's comeback. "I am really looking forward to their return to Greek campus life," he said.
"The amount of success they achieve will be a true sign as to whether there is still interest in the Greek community at UNC."