Gurdon G. Black was a leading member of this society. The House was completed in 1928, the first on fraternity row. Alpha Iota's charter was again withdrawn in 1992 due to various risk management violations. Beta's house was torn down in 1995 to make room for the new law school. The General Fraternity revived the chapter in the spring of 1997 with the initiation of 21 hardworking and enthusiastic men.
Plans are currently underway to rebuild the chapter house.