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Hurricane Katrina Sir Isaac Newton's third law of physics states that for every action there is an equal and opposite reaction. That law could be applied to the aftermath of Hurricane Katrina. The action was devastation for many families and areas of our city. The opposite reaction is that investors, many from out of town, view this as an investment opportunity. We have been working with investors from different parts of the country to help realize investment opportunities which will have the long term effect of helping rebuild New Orleans.
Areas of the city hardest hit in terms of shear size of the destruction are: Lakeview, Mid-City, St. Bernard, Gentilly, and New Orleans East, and the Ninth Ward. Each of these once vibrant neighborhoods suffered substantial damage from the flood waters or storm surge. Will they all come back? We do not propose to have a crystal ball, but based upon the experience of long time residents of the Cresent City, we can offer some ideas.
Of all the areas, Lakeview will probably be the first to return. These were expensive homes, many over 400,000. Those people have the financial means to return and rebuild. Additionally, Lakeview has a long-standing, very active civic associationwhich will accelerate the rebuilding effort!
Mid-City will vie with Lakeviewon the comeback trail. While the homes were not as expensive, many had historic significance, and once again, a very active community support network.
The people in St.Bernard had a generations of old love affair with their family oriented life-style. Their spirit is strong, but the people lack the financial resources we find in Lakeview or Mid City.
Gentilly and New Orleans East are large areas of homes of hard-working people. While different areas had neighborhood associations, they lack the cohesive, central civic group such as seen in Lakeview.
The Ninth Ward quite simply pulls at the heartstrings. These were the homes of the working poor. It iwll require strong government assistance to rebuild this area.
The description of each area should offer you, the investor, a time horizon for investment return in each area.
For information on these opportunities, contact Eric or Jack. | ||
