How one town is moving to avoid flooding

About 40 homeowners in a flood-prone Louisiana community are tapping federal funds to relocate to higher ground

TRD NATIONAL /
May.May 04, 2019 12:00 PM

(Credit: iStock)

Plans to move a tiny, flood-prone community in Louisiana to higher ground may serve as a model for people forced to leave their homes due to worsening weather conditions.

About 40 homeowners who live in Pecan Acres, a flood-prone subdivision in New Roads, Louisiana, plan to move their community in its entirety about two miles away to a site where the elevation is 10 feet higher, CNBC reported. It will be one of the first federally-funded relocation of an entire community due to weather and makes the residents among America’s first “climate refugees,” according to the report.

The low-lying subdivision was built next to a canal in the 1970s, but now the area’s levee can no longer properly hold back increasing rainfall, which is causing frequent, intense flooding in the community. Floods in 2016 and 2017 in particular galvanized state planning to relocate Pecan Acres and convert the land to wetlands at a total cost of $12 million.

To pay for the relocation, the homeowners will take out forgiveable loans up to $200,000 where, for each year they reside in the new home, a fifth of the loan will be forgiven, so they can become debt-free homeowners in five years.

“I’m ready to go,” said Curnell Jackson, one of many owners of flood-damaged homes in Pecan Acres. The new homes are supposed to be ready for residents to move into by fall 2020. [CNBC] – Mike Seemuth


Related Articles

arrow_forward_ios
Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Massive stimulus package has limited upside for real estate

Massive stimulus package has limited upside for real estate

About 450 sellers pulled their listings last week (Credit: iStock)

As New York shut down, so did its resi market

Is REBNY and StreetEasy’s decision a much-needed reprieve or data manipulation? (Credit: Pixabay)

Decision by StreetEasy, REBNY to stop market clock triggers debate

The Atelier at 635 W. 42nd Street and 70 Charles Street (Credit: Google Maps)

One of NYC’s priciest listings to appear on the market last week is already in contract

Jacqueline Friedman Brogadir and 993 Fifth Avenue, 10th Floor (Credit: Brown Harris Stevens, Patrick McMullan/Patrick McMullan via Getty Images)

Daughter of Goldman exec nabs Fifth Avenue co-op for $25M

Clockwise from top left: Halstead’s Diane Ramirez, Douglas Elliman’s Howard Lorber, Corcoran Group’s Pam Liebman and Brown Harris Stevens’ Bess Freedman (Credit: Getty Images; iStock)

Tension lingers over showings as brokerage chiefs navigate pandemic

(Credit: iStock)

REBNY orders days on market calculation to stop for resi listings

arrow_forward_ios
Loading...