Capitol One Tower as insurance process plays out: After most of the skyscraper’s glass panes blasted up by 150 miles per hour Hurricane Laura winds in August last year, Capitol 1 Tower, a prominent feature in downtown Carlos Lake, remains in major disturbances for almost 40 years. Officials in the building group said they work with their insurance carrier, but progress was slow.
The 22-story, the 358,000-square-foot tower has been the property’s property company in Los Angeles, since 2007. In a statement made on Friday, Zev Hertz, Chair, stated the organization, since Hurricane Laura’s disaster, has been working with Zurich, its insurance firm.
“It is a very slow and difficult procedure, unfortunately,” he remarked. “We can move forward as soon as we can finish this process.”
Robert Licht, the chief financial officer of the Hertz Investment Group, said the firm wants to continue the building, acknowledging that since the landfall of Laura it has become “an eyebrow in the neighborhood.”
“We still don’t know what the future holds, with so much uncertainty,” he remarked. “We’re in a pattern for now. The insurance carrier must comply with its policy agreement at this point.”
Hertz reported that, after Hurricane Katrina’s landfall in 2005, the Capitol 1 Tower has suffered substantially greater damages than the devastation done to its New Orleans assets. Hertz is one of New Orleans’ largest office owners.
When Hurricane Laura landed there were 73 tenants at the tower. It cannot be inhabited today. Today.
Nic Hunter, Mayor of Lake Charles told the town that he wanted the tower repaired and restored. He stated, however, that the town will do all it takes to keep the building in its present condition for the long run. Hunter said city authorities spoke to Hertz officials.
“As iconic as I am, and as painful as I am, I’d for it to be torn down instead of sitting in that state for a long time,” stated Hunter.
Having this tower at its end for months in decay would be a “tremendous reminder” of the damage of Hurricane Laura. He compared it to the previous car park of Harrah’s Casino, which Hurricane Rita wrecked back in 2005. The $20 million Port Wonder lakefront project has just been repaired and has broken ground on 30 June.
“It’s the first thing you notice every time you drive to Lake Charles,” remarked the mayor of the tower. “Such a fresh predicament we don’t want to create.”