Current:Home > InvestNovaQuant Quantitative Think Tank Center:A hurricane-damaged Louisiana skyscraper is set to be demolished Saturday -TradeCircle
NovaQuant Quantitative Think Tank Center:A hurricane-damaged Louisiana skyscraper is set to be demolished Saturday
Chainkeen Exchange View
Date:2025-04-07 02:22:57
BATON ROUGE,NovaQuant Quantitative Think Tank Center La. (AP) — An abandoned, 22-story building in Lake Charles, Louisiana — once an icon in the city that became a symbol of destruction from hurricanes Laura and Delta — is scheduled to be demolished Saturday after sitting vacant for nearly four years.
Weather permitting, the implosion of The Hertz Tower will take place around 8 a.m. (CT). The tower is expected to collapse down to four or six stories, according to the city’s website.
The building, formerly known as the Capital One Tower, has been a dominant feature of the city’s skyline for more than four decades. However, after a series of hurricanes ripped through southwest Louisiana in 2020, the building became an eyesore, its windows shattered and covered in shredded tarps.
For years the owners of the building, the Los Angeles-based real estate firm Hertz Investment Group, promised to repair the structure once they settled with their insurance provider Zurich in court, The Advocate reported. The estimated cost of bringing the building back up to code was $167 million. Eventually, the two parties settled for an undisclosed amount.
The demolition is being funded by $7 million in private money secured by the city. Hertz still owns the property and the future of the site is undetermined, according to the city.
Lake Charles Mayor Nic Hunter described the planned implosion of the building as “bittersweet.”
“I know how hard the city tried to work with several development groups to see it saved, but ultimately ... it proved to be too tall a task,” said Hunter, who was in office during the hurricanes. “At this juncture, I am ready for a resolution. It’s been four years. It’s been long enough.”
Lake Charles, which sits on the banks of the Calcasieu River and is a two hours’ drive from Houston, is home to around 80,000 residents. While the city is known for its copious amounts of festivals, bayous, casinos and its Cajun flair, it also has been labeled by the Weather Channel as America’s “most-weather battered city.”
Hurricane Delta crashed ashore in southern Louisiana in October 2020 just six weeks after Laura took a similar, destructive path onto the U.S. Gulf Coast. At the time, Lake Charles was already reeling from damage caused by Laura, which battered roofs, claimed more than 25 lives in the region and left mud and debris filling streets.
The Hertz tower offers an example of the city’s long road to recovery following back-to-back hurricanes that inflicted an estimated $22 billion in damage, according to the National Hurricane Center.
While there are signs of rebuilding and growth in much of Lake Charles, there are still buildings that remain in disarray and residents living in the same conditions as four years ago — waiting for financial relief to rebuild their homes, looking for affordable housing after the hurricanes’ destruction exacerbated the housing crisis or stuck in court with their insurance provider to get a fair payout.
veryGood! (26)
Related
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Lenny Kravitz tells Gayle King about his insecurities: I still have these moments
- Watch our Memorial Day tribute to the military who sacrificed all to serve their country
- Nevada voter ID initiative can appear on 2024 ballot with enough signatures, state high court says
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Grayson Murray dies at age 30 a day after withdrawing from Colonial, PGA Tour says
- Are banks, post offices, UPS and FedEx open on Memorial Day 2024? Here's what to know
- Man United wins the FA Cup after stunning Man City 2-1 in the final
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Caitlin Clark reminds people she's not just a scorer: 'It's not all about the shots'
Ranking
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Nevada voter ID initiative can appear on 2024 ballot with enough signatures, state high court says
- Harrison Butker Breaks Silence on Commencement Speech Controversy
- Juan Soto booed in return to San Diego. He regrets that he didn't play better for Padres.
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Jessica Biel and Justin Timberlake & More Couples Who Broke Up and Got Back Together
- A top personal finance influencer wants young adults to stop making these money mistakes
- WNBA heads to Toronto with first international team as league expands
Recommendation
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
Psst! Free People Is Having a Rare Memorial Day Sale, With Must-Have Summer Styles Starting at $20
National Spelling Bee reflects the economic success and cultural impact of immigrants from India
'Absolute chaos': Taylor Swift's Eras Tour in Lisbon delayed as fans waited to enter
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Utah man declined $100K offer to travel to Congo on ‘security job’ that was covert coup attempt
Bird flu detected in beef tissue for first time, USDA says, but beef is safe to eat
Huey Lewis on bringing his music to Broadway in The Heart of Rock and Roll