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Started By
Message
re: Capital One Tower in Lake Charles - loss of $139,876,991?
Posted on 12/13/21 at 9:28 pm to Winnebago Tiger
Posted on 12/13/21 at 9:28 pm to Winnebago Tiger
Interesting video regarding what, specifically, caused alot of that damage:
YouTube 3.5 minute video
YouTube 3.5 minute video
0
Posted on 12/13/21 at 9:39 pm to stout
quote:
They also stay across the street in that vacant damaged building next to Albertson's.
No doubt, bringing their wealth and raising property values to the damaged area all while providing the much needed repair grunt work as they hustle towards bettering their place in life.
Posted on 12/13/21 at 9:42 pm to CitizenK
Supposedly, CM was the only bank allowed to do business across parish lines before multi-parish banking laws were changed. Huey Long was friends with Mr. Lawton and CM was specifically exempted by statute...
Posted on 12/14/21 at 8:35 am to Tigerfan1274
quote:
Yeah, it will be strange not to see it there. But you are correct. I worked in their for a few years in the late 00s and the building was only at about 50% occupancy back then and I think it had slipped before 40%. Quite a few companies and as well as public entities rent roof space for communication equipment. That will be about the only loss at this point.
There were a couple of attorneys in there, and I couldn't tell you what other businesses were in there. Their offices looked straight out of the 80s and the place hasn't been renovated probably since then.
Posted on 12/14/21 at 11:45 pm to Klondikekajun
Huey was friends with W.T Burton and both were part of Win or Lose Oil company. Pally Lawton was a son in law, Bill and Jack his sons. Bill played football for aTm and Jack for LSU. Burton Materials stored clam shells dredged by Burton Dredging just off the LA Coast with mineral leases from the state. At least on mineral lease was subleased to Texaco for oil/gas and was still paying royalties a decade ago and might still be. Their clam shell yard was where Isle of Capri Casino is being demolished. Burton had a lot of road construction contracts with the state before he bought the bank. A number of business financing applicants were sent to his office where he offered to fund as a partner. Burton also had a brown paper sack lunch in his office daily.
W.T. Burton always carried counter checks which he even bought his first Lear Jet with one in Nevada. CM stopped having counter checks (in every bar, restaurant, etc...) when W.T. died. All the other local banks followed suit.
CM was the most stable bank with cash reserves in the state if not the nation.
W.T. Burton always carried counter checks which he even bought his first Lear Jet with one in Nevada. CM stopped having counter checks (in every bar, restaurant, etc...) when W.T. died. All the other local banks followed suit.
CM was the most stable bank with cash reserves in the state if not the nation.
Posted on 12/15/21 at 12:00 am to CitizenK
can you imagine the mold and mildew in that building now?
Posted on 12/15/21 at 5:32 am to stout
quote:
Rumor is that it most likely will be torn down
Yep. Last I heard Thursday of last week.
It's not long for this world. Being condemned. Scheduled for Demo
Posted on 4/7/22 at 7:12 am to thejudge
Posted on 4/7/22 at 7:24 am to damn_baw69
My opinion is they’ll complete minimal exterior repairs for aesthetics ahead of and during trial, but that it will ultimately be demolished. Can’t begin to imagine how gross it is in there right now.
Posted on 4/7/22 at 7:27 am to damn_baw69
quote:
Owners aim to repair Capital One Tower
Good luck with that
Posted on 4/7/22 at 7:28 am to SW2SCLA
I saw they finally started working on the boardwalk gazebos.
Posted on 4/7/22 at 7:35 am to boosiebadazz
quote:
That Lake Charles jury pool is going to be ripe for years to come
Lake Charles jury pool aka future LA Citizens insureds.
Posted on 4/7/22 at 8:09 am to AmosMosesAndTwins
quote:
My opinion is they’ll complete minimal exterior repairs for aesthetics ahead of and during trial, but that it will ultimately be demolished. Can’t begin to imagine how gross it is in there right now.
Everyone remember the partially constructed tower that sat idle for 20 years off Bluebonnet? If they can renovate that into a hotel, they can fix Capital One in LC
Posted on 4/7/22 at 8:10 am to damn_baw69
quote:
Owners aim to repair Capital One Tower
Good. I was hoping they'd convert it into a hotel or something rather than demo the whole thing.
I don't think there's a need for that much office space in Lake Charles right now.
Posted on 4/7/22 at 8:23 am to Tigeralum2008
The building that is now Renaissance was only a concrete structure that sat in the elements.
While it likely didn’t do the concrete or other parts a lot of good, it also meant there wasn’t a lot to tear out once someone decided to use the structure.
Trying to rehab a building with all kinds of flooring, drywall, wiring, etc, in it that got the shite knocked out of it by a hurricane and has sat vacant for a few years would probably be a bigger headache than it is worth.
BREC rehabbed a particularly nasty building into their offices on Florida and Ardenwood but that took a long time (several years IIRC), was only two floors, and the building itself was a white elephant donation by Milton Womack once he could no longer use political pressure to get the state to rent it for an exorbitant amount.
While it likely didn’t do the concrete or other parts a lot of good, it also meant there wasn’t a lot to tear out once someone decided to use the structure.
Trying to rehab a building with all kinds of flooring, drywall, wiring, etc, in it that got the shite knocked out of it by a hurricane and has sat vacant for a few years would probably be a bigger headache than it is worth.
BREC rehabbed a particularly nasty building into their offices on Florida and Ardenwood but that took a long time (several years IIRC), was only two floors, and the building itself was a white elephant donation by Milton Womack once he could no longer use political pressure to get the state to rent it for an exorbitant amount.
Posted on 4/7/22 at 9:02 am to JAGuyHeh
I live directly next to the tower while working on a project out in LC.
Apparently Hertz bought the project in like 07 for less than $20M and asking for $140M in insurance.
Bc of the extent of the repair, they will have to bring a 1980s building to 2022 code if they are to repair, which is the reason for the high price. All this to say, it would likely be cheaper for the insurance company to pay the cost of demo the whole thing then throw the $20M extra.
No chance that building gets renovated
Apparently Hertz bought the project in like 07 for less than $20M and asking for $140M in insurance.
Bc of the extent of the repair, they will have to bring a 1980s building to 2022 code if they are to repair, which is the reason for the high price. All this to say, it would likely be cheaper for the insurance company to pay the cost of demo the whole thing then throw the $20M extra.
No chance that building gets renovated
Posted on 4/7/22 at 9:06 am to Jim Rockford
quote:
There's a homeless casino license looking to roost somewhere.
They reached out to the old Isle of Capri to rebuild that location. Looking at the extent of the damage was one of the reasons they turned it down
Posted on 4/7/22 at 9:08 am to AmosMosesAndTwins
quote:
but that it will ultimately be demolished.
I hope not... I would love to see it back up and running. It's kind of a "landmark"
Posted on 4/7/22 at 9:10 am to supadave3
Say it ain’t so? The jewel of lake chuck? Oh wait that’s the isle of Capri.
Posted on 4/7/22 at 9:13 am to Pierre
quote:
Say it ain’t so? The jewel of lake chuck? Oh wait that’s the isle of Capri.
Isle of Capri isn’t in LC, technically. It’s also underway with a renovation, land casino and a name change
This post was edited on 4/7/22 at 9:15 am
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