In 1923, 15 young men met in their boarding house on Glenn Avenue to form a local fraternal club, Tau Kappa Phi, with the hopes of attracting a national fraternity affiliation. On October 2, 1926, the club was installed as the Alpha Iota chapter of Pi Kappa Phi at a grand banquet attended by local brothers, national officers, and the president of Auburn University, then the Alabama Polytechnic Institute. Under the leadership of the first Alpha Iota initiate, James T. Russell, the chapter flourished and became a powerhouse among the campus fraternities scholastically, athletically, and socially. The chapter relocated from its first chapter house on Glenn Avenue to a house on Auburn's original Old Row on College Street in 1940. In 1986, Pi Kappa Phi constructed Alpha Iota's current fraternity house on 861 Lem Morrison Drive after Auburn University reclaimed the land to construct the Auburn Hotel. Since it's foundation in 1923, Alpha Iota members have been leaders on campus, in their communities and in the national organization. Alpha Iota members rank among the most generous donors to the national fraternity foundation, a number have served in national offices in Pi Kappa Phi’s Supreme Council, and the Alpha Iota chapter holds the distinction of being the oldest continuously operating Pi Kappa Phi chapter in the nation.
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