The Katrina Cottage is certainly an interesting option for those wanting to stay in a hurricane-devastated area while their house is being rebuilt. It's also a viable option for anyone who wants to enjoy land they've purchased and intend to eventually build their custom home on, but are not ready to build the full-size version yet. The cottage may even be a good option for affordable housing - a hot topic these days!
If you click on the "Using the Cottage" link, it's interesting to see how it can provide people with three options of where to place it on the lot so as to eventually incorporate the cottage into the final plans for the lot. If you click on the "Plan Options" link and then on each of the artist's renderings, you'll see that they offer five different floorplans ranging in size from 308 to 936 sq. ft., depending on your needs. There's even a two-story version. Katrina Cottages are designed to be reasonably priced and withstand heavy rains and winds up to 140 MPH and, in my opinion, are a better alternative to FEMA trailers.
Lowe's Home Improvement stores has signed on to be the exclusive retailer of housing plans and associated building materials needed to construct Katrina Cottages.
Overall, I'd give the Katrina Cottage a definite "thumbs up!"