A meeting between FarmHouse fraternity and the East Village developer likely will not bring the two sides any closer to an agreement about the fraternity's Bogue Street property.

San Diego-based Pierce Company Inc. offered FarmHouse three options in exchange for its property at 151 Bogue St., said Pieter Serne, an agribusiness management senior and president of FarmHouse.

The two groups are scheduled to meet today.

The developer has offered to renovate an existing house, build the fraternity a new house or move its existing house to a new location, for historical reasons, he said.

"Right now, we're not even looking at those options they're offering us," Serne said.

Representatives from The Pierce Company said these aren't the only options the fraternity is being offered.

The East Village redevelopment involves a mix of retail, residential and entertainment properties in the 35-acre area bounded by East Grand River Avenue, Hagadorn Road, Bogue Street and the Red Cedar River. It is home to Cedar Village apartments, among others, and houses about 2,000 student renters.

Representatives from The Pierce Company will meet with the fraternity's association board, which has final say about the property, Serne said. The association board is composed of alumni.

Though FarmHouse - both its active chapter and association board - is discussing the developer's proposal, the two sides are not any closer to an agreement, he said.

"We want a piece of property that will match the position we're in right now," Serne said.

If relocated, fraternity members want accommodations with the same proximity to campus that its current property offers, as well as the capability to house current fraternity members with room for a possible expansion.

The three scenarios the developer has put on the table wouldn't meet those conditions, Serne said.

These are not the only options the fraternity has, said Theresa Nakata, vice president of marketing and communications for The Pierce Company.

The fraternity still has the option of selling its land and being a partial owner in a redeveloped East Village.

The Pierce Company is currently working out the financial aspects of the project.

"They're beginning to put some numbers together," said Tim Dempsey, East Lansing's community and economic development administrator. "The city hasn't had the opportunity to see any of those numbers because they're still preliminary."

The finances of the redevelopment should be ready for the city to review in the next couple months, he said.

While they are in East Lansing, developers will continue to meet with city officials and "community stakeholders" - groups that have an interest in the redevelopment.

"There's so many groups we can't get around to all of them every time we get in," Nakata said.

Last month the developers announced they would no longer be pursuing property east of Stoddard Avenue, effectively cutting the development in half, because of Prime Housing Group's refusal to sell its seven properties in the East Village area.

Developers are currently considering a two-phase approach to the project. The first - and for the time being, only - phase of the project would encompass the land west of Stoddard Avenue.

"My initial impression is very positive," said Eric Sudol, head of the Downtown Development Authority.

Sudol met with The Pierce Company on Monday.

"It's still early in the process and so many difficult things need to be done before it can become a reality," he said.

Sarah Norris can be reached at norriss3@msu.edu.