LA: New Orleans to Auction Off Properties Damaged By Hurricane Katrina

New Orleans Real EstateSeveral properties in New Orleans are scheduled to hit the auction block this weekend as part of a recovery effort to reclaim real estate damaged by Hurricane Katrina in 2005. 94 properties in 27 neighborhoods throughout New Orleans will be up for sale.

Of the 94 homes, at least 20 are vacant, and most are one or two-family houses. Whoever places the winning bid will not only own the properties, but also must pledge to rehabilitate the homes and begin construction within a year of purchase.

The initiative is being called the “blight fight”, an ongoing struggle to keep New Orleans neighborhoods from deteriorating after thousands of homes were damaged or destroyed by the catastrophic hurricane. One of the organizations that has played a major role in that struggle is the New Orleans Redevelopment Authority, which arranged for the home auction to take place.

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