Industry News

New Orleans: A tale of two cities

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

NEW ORLEANS -- New Orleans locals say the city has two faces: downtown has been nearly restored after Hurricane Katrina put the whole city under water in August 2005. Streets welcome visitors with shops, restaurants and attractions in the famous nearby French Quarter. The other face is the dwelling -- the vacant neighborhoods, block after block of empty houses and shops, musty smells, stillness, and the occasional sign of life in a garden, a new roof, friendly faces. While downtown New Orleans appears much stronger than many visitors would've thought, the outlying residential areas are worse than many could imagine. Life pre-Katrina and life post-Katrina are worlds apart, different as land and sea. "We all have Katrina memory damage – we can't remember too far back," says Arthur Sterbcow, president of Latter & Blum real estate brokerage. Touring through some of the hardest hit neighborhoods – Holy Cross, the Upper Ninth Ward, Lower Ninth Ward, St. Bernard parish &n...