NEW ORLEANS (WGNO) – Canal Street is blocked near Harrah’s and the ferry entrance after the roadway apparently caved in. WGNO’s traffic camera shows a gaping hole in the road on Canal Street. Two weeks ago, the City of New Orleans closed the lake-bound traffic lanes on Canal Street due to an underground problem in the same area as the collapse. City workers said then that a wall on an inactive tunnel was damaged. A spokesman for the city said today that the road has remained closed for the past two weeks. City workers saw the road begin to buckle this morning. They expected this to happen. The spokesman said workers didn’t think it would happen as quickly as it did. Mayor Mitch Landrieu, speaking at a press conference held at the site of the sinkhole, said it’s a “catastrophic failure” that will take three-six months to fix. City officials said it could cost anywhere from $3 million to $5 million. This is the second road that’s caved in over the past 24 hours. A sinkhole formed in the 400 block of Constantinople Street Thursday after heavy rains. Check back for updates.