Larry G. Schedler, CCIM
President
Larry G. Schedler & Associates
What are you most excited about in the coming year?
I am encouraged by the fundamentals in the market; supply and demand are in sync and the decrease in construction starts will undoubtedly further strengthen the market. The lack of developable land in the New Orleans Metro creates a franchise of sorts for multifamily owners as unbridled development is virtually impossible. This phenomenon is not the case in most Sunbelt markets. It has been exciting to see the evolution in development with new designs such as The Metro at Clearview, South Market District and adaptive reuses such as 624 Jackson.
What is the biggest challenge facing your industry today?
Insurance, jobs and affordable housing. Although punitive insurance premiums have seen declines, they remain significant and a barrier to the economic feasibility of both existing and future properties. Occupancy and rent growth are directly related to employment, and the creation of well-paying jobs will be critical to the long-term stability of our multifamily market. Affordable housing is an issue throughout the country, and certainly New Orleans has a significant need. The affordable housing needs will be met through public/private partnerships. Increased construction cost does not allow for the development of affordable housing without some type of government subsidies.
Larry G. Schedler & Associates, Inc. is a boutique brokerage firm that specializes exclusively in the acquisition of large multifamily properties throughout Louisiana. Since the founding of the firm, LGS & Associates has had a strategic alliance with Cushman & Wakefield of Atlanta and is part of their Multi-family Sunbelt team. Through this alliance, they have handled the sale of over 65,000 apartments units in the state representing sales in excess of $ 5.5 billion. Some notable transactions include Canal1535, The Collins, American Can Apartments, Arden Park, Tapestry Long Farm and Houma Highlands.
