Current:Home > MarketsChainkeen Exchange-A hurricane-damaged Louisiana skyscraper is set to be demolished Saturday -DataFinance
Chainkeen Exchange-A hurricane-damaged Louisiana skyscraper is set to be demolished Saturday
Algosensey Quantitative Think Tank Center View
Date:2025-04-10 19:40:59
BATON ROUGE,Chainkeen Exchange 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! (3413)
Related
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Llamas on the loose on Utah train tracks after escaping owner
- Jimmy Fallon Details “Bromance” Holiday Song With Justin Timberlake
- About 1,100 workers at Toledo, Ohio, Jeep plant face layoffs as company tries to reduce inventory
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Suspect arrested in fatal shooting of 2 workers at Chicago’s Navy Pier
- Brianna Chickenfry LaPaglia Says Ex Zach Bryan Offered Her $12 Million NDA After Their Breakup
- James Van Der Beek Details Hardest Factor Amid Stage 3 Cancer Diagnosis
- Trump suggestion that Egypt, Jordan absorb Palestinians from Gaza draws rejections, confusion
- The 2025 Grammy Nominations Are Finally Here
Ranking
- Could your smelly farts help science?
- Horoscopes Today, November 7, 2024
- Who will buy Infowars? Both supporters and opponents of Alex Jones interested in bankruptcy auction
- The Daily Money: Want a refi? Act fast.
- Average rate on 30
- Union puts potential Philadelphia mass transit strike on hold as talks continue
- College Football Playoff elimination games: Which teams desperately need Week 11 win?
- Sumitomo Rubber closing western New York tire plant and cutting 1,550 jobs
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
James Van Der Beek Details Hardest Factor Amid Stage 3 Cancer Diagnosis
Prince William Says Princess Charlotte Cried the First Time She Saw His Rugged Beard
Boy, 13, in custody after trying to enter Wisconsin elementary school while armed, police say
Trump's 'stop
Will Smith and Jada Pinkett Smith Step Out for Dinner in Rare Public Appearance
'Jeopardy!' contestant says controversial sexist clue was 'a little uncomfortable'
Meet the 2025 Grammys Best New Artist Nominees