The deal, which would mean tens of thousands of dollars for affected homeowners, must be approved by an Orleans Parish judge.
Almost four years ago, residents of homes built by the Make It Right Foundation, a futuristic post-Hurricane Katrina housing development founded by Brad Pitt, sued the Hollywood superstar and his associates for defective design and building practices, breach of contract, and fraud.
Late Tuesday, attorneys for the Make It Right Foundation and the affected residents told Orleans Parish Civil District Court that they had agreed on a settlement meant to make all residents of the development whole.
Make It Right will pay owners of the homes it built in the Lower 9th Ward $20.5 million, according to court documents. Though only six homeowners are named in the lawsuit against Make It Right, the class-action lawsuit settlement applies to all of the homeowners unless they choose to opt out.
Pending approval by a judge, each of the 107 Make It Right homeowners will be eligible to receive $25,000 as reimbursement for previous repairs made by the owners.
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