Renovate Six Flags? Not likely, says real estate expert

August 16, 2019 - 12:32 pm

For 14 years, the rollercoasters of Six Flags have stood abandoned, looming against the sky near I-10 and Michoud Boulevard. Plans to bring the amusement park back have come and gone, and one real estate expert doesn't think it has any chance to return.

"If there's a number less than zero, I would probably assign that as a rating to it," said real estate analyst Arthur Sterbcow. "I think anything accelerated within the next five years is way overly optimistic and just not financially viable."

Sterbcow says it's time to remove or demolish the rides, sell it, and move on

"It's a landmark to just New Orleans as a failure to develop New Orleans East, to be blunt," he said. "It just needs to be gone."

Sterbcow says the best use for that land right now, and probably the next five to ten years, is either land speculation, or as buffer wetlands for storm protection.

New Orleans East councilwoman Cyndi Nguyen has planned a meeting next month with residents about get ideas on what to do with the property and present the New Orleans Business Alliance's initial findings of their redevelopment study. It's scheduled for Thursday, September 5 from 6:00 to 8:00 p.m. at Franklin Avenue Baptist Church.

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