Larry Schedler

Principal
Larry G. Schedler & Associates, Inc.

Larry G. Schedler & Associates, Inc. is a real estate firm that specializes exclusively in marketing multifamily assets throughout the Gulf South. They have transacted over $4.5 billion in multifamily assets. Notable projects within the past few years include: The Esplanade at City Park (443 units); American Can Apartments (268 units); AVR Portfolio (2,079 units); Millennium Towne Centre Apartments (276 units); Morguard Portfolio (643 units); Grand Pointe Apartments (266 units); Pelican Pointe Apartments (266 units); and East New Orleans Portfolio (1,600 units).

What are you most excited for in the coming year? Both private and institutional investors have taken note of the sound fundamentals and returns in the multifamily space. As a result, they continue to seek opportunities in the metro New Orleans market for all asset classes — from affordable to luxury housing. Over the past decade, we have seen many neighborhoods revitalized by the development of large-scale multifamily communities (South Market District, Two Saints, Lumina, 930 Poydras, etc.) This demand should remain strong in the coming year as rental rates and high occupancy levels will inevitably continue to attract investors.

What would you say is the biggest challenge you’re seeing? The barriers to entry in developing multifamily housing in New Orleans are significant. Scarcity of large tracts of land, coupled with rising construction costs, make the development of affordable housing without a subsidy virtually impossible. Meeting the need for affordable housing is a challenge facing cities all over the country. The solution can best be accomplished by public/private partnerships with experienced developers.