New Orleans Now (part III)
The most controversial developer in New Orleans is Pres Kabacoff.
Here how he has been described in one independent newspaper:
A major power broker in New Orleans, real estate developer Pres Kabacoff sits on Mayor Nagin’s Bring New Orleans Back Commission. NPR and other corporate media portrayed him as a liberal visionary out to create a Paris on the Mississippi. The truth is that Kabacoff represents the worst of New Orleans’ local disaster profiteers.
It is Kabacoff who, in 2001,famously demolished affordable housing in the St. Thomas projects in New Orleans’ Lower Garden District and replaced it with luxury condos and a Wal-Mart. “New Orleans has never recovered from what Kabacoff did,” says one housing activist. “It was a classic bait and switch. He told the city he was going to revitalize the area, and ended up changing the rules in the middle of the game and holding the city for ransom. He made a ton of money, the rich got more housing, and the poor got dispersed around the city.” This year, Kabacoff has had his eyes on razing the Iberville housing projects, a site of low-income housing near the French Quarter. While Iberville residents were in their homes, they were able to fight Kabacoff’s plans. Now that many are still gone, their homes (which were not flooded) are in serious danger from Kabacoff and other developers seeking to take advantage of this tragedy to “remake the city.”
Our citizens journalist got an interview with him. This piece was edited by Loren Feldman.Explore posts in the same categories: New Orleans Now, Team New Orleans