Can this eucalyptus recover?

[dadxfour]

I just bought a home in California's San Joaquin Valley about three months ago. I did not pay too much attention to this eucalyptus in the front yard until I noticed a branch was sagging. I took a closer look and found the previous owner used paracord to tie it to the support stake. I cut away the cord from as close to the tree as possible and left the rest embedded, and I bought some tree strapping. But, as you can see from the photos, the damage from the paracord is deep. If I get a longer/stronger support post, can this tree fully recover, or am I better off taking it out now to prevent a future safety hazard? Thanks.

 

[Raintree]

The short answer is yes it will recover. As a arborist I would recommend removal and replacement to the homeowner.
Even if it snapped at the choke point it would continue to grow, it's a eucalyptus.
If it was mine, I'd pull out any of the rope that's not completely embedded. Reduction prune the canopy by 50% to reduce weight and wind load. Properly support stem, keep the tree pruned back and give it about 3 years to strengthen.

 

[dadxfour]

Thanks for the quick reply; I am the homeowner, and prefer to start with a solid tree in the front yard. I suspected removing and replacing was the best route. Also, this tree is in a small front yard, 15 feet from the house and 10 feet from the sidewalk, and an in-ground utility box in our neighbor's yard. Can you recommend any drought-tolerant trees that will not wreak havoc on the sidewalk, utility box, or house? Something that could provide a little shade to the south-facing front of the house would be great, but I know we do not have much space to work with here. I attached a Google earth picture showing the tree and utility box.

 

[Raintree]

I'm not familiar with our area so I can't make a recommendation. There are some good resources online.

https://cagardenweb.ucanr.edu/