Abry Brothers Inc.: Navigating Insurance Challenges and Structural Preservation
Abry Brothers Inc., a longstanding family-run enterprise, has specialized in lifting, leveling, and relocating structures throughout New Orleans for over 180 years. CEO Greg Abry emphasizes that their work is vital in a region where unstable soil and water damage remain constant risks. The company handles approximately 150 projects annually, ranging from residential repairs to large-scale commercial endeavors.
Operating mainly in the Greater New Orleans area, Abry Brothers has shifted its focus over time from moving homes to foundation leveling and shoring. This strategic pivot responds to evolving labor and material costs and infrastructure developments like underground cable installations. Originally renowned for building relocations, the company adapts to changing conditions and challenges.
Their portfolio includes significant historic sites like Warren Easton Charter High School and Central Grocery, reflecting their commitment to preservation despite the absence of landmark protections. Abry Brothers' adaptability shines through, particularly as many deteriorating historic buildings require urgent foundation stabilization.
Insurance presents a key challenge for Abry Brothers. Standard homeowners’ policies often exclude coverage for foundation repairs unless a specific peril occurs, placing the financial burden on clients. Moreover, the company's insurance premiums have nearly tripled in the past five years, adding financial pressure.
Complicating matters further are changes in federal grant procedures for flood mitigation. Policy shifts under various presidential administrations have introduced delays and uncertainties, with Abry Brothers facing millions in project funds tied up pending approvals. Changes in flood insurance risk assessment also affect their business's economic viability, with home elevations not necessarily lowering insurance premiums.
Despite interest from potential buyers, the Abry family has shown reluctance to sell, prioritizing their historical ties and the tradition of passing the business between generations over profit and efficiency. Greg Abry presently sees the most significant threat not in natural disasters, but in the economic and demographic shifts impacting New Orleans. A declining population and stagnant economy could harm demand for their repair and preservation services, although they remain hopeful for a mutually beneficial future for the city and company.