CEDARst Companies officially broke ground on The Presley this week — marking the first residential development to be delivered within the Las Vegas Medical District. For a company that has built its identity around identifying transformational opportunities before they reach broad institutional recognition, this milestone is a direct expression of that thesis.
The Medical District is one of Las Vegas’ most consequential economic corridors. Over the past decade, it has attracted sustained capital investment in clinical infrastructure, academic medicine, and research institutions. What it has not had — until now — is a residential community built to serve the professionals, students, and workforce that power that ecosystem. The Presley changes that.
The development is structured within a Qualified Opportunity Zone, a designation that allows CEDARst Companies and our investment partners to deploy long-duration capital with a tax-advantaged framework that rewards exactly the kind of patient, fundamentals-driven approach we bring to every market. This is now our tenth QOZ development. Across Las Vegas, Chicago, San Diego, and South Florida, we have approximately 1,600 units in QOZ projects representing more than $500 million in total development value. That portfolio did not accumulate because we chased incentives — it grew because we believe in the markets, and the structure reinforces the discipline.
Las Vegas is a priority market for CEDARst Companies for reasons that have nothing to do with incentives. The city’s population growth, employment diversification, and persistent undersupply of quality multifamily product create the conditions we look for when we enter a market with long-term conviction. We will deliver The Myles — a 311-unit community in the Arts District — in the spring of 2026. The Presley is the next chapter in that commitment to the city.
First-in-market development carries responsibility. When you are building the first residential community in a neighborhood, you are not just delivering a product — you are establishing a baseline for what the neighborhood can become. We take that seriously at CEDARst Companies. The programming, the amenity profile, and the affordability commitment at The Presley all reflect a long-term view of what the Medical District deserves.
CEDARst Companies now owns and operates more than 5,000 units in Chicago, with a national portfolio exceeding 10,000 residential units and $4 billion in total asset value. That scale is meaningful only insofar as it makes us a more capable, more disciplined operator in every market we serve. The groundbreaking of The Presley is a continuation of that standard — executed with the same rigor, the same conviction, and the same long-term orientation that has defined this company from the beginning.
We look forward to sharing more about The Presley as the project progresses. This is a development worth watching — not just as an asset in our portfolio, but as a signal of what focused, fundamentals-driven capital can do for an evolving urban neighborhood.
What is The Presley?
Why does The Presley matter to CEDARst Companies?
The Presley is more than a single project milestone. It represents CEDARst Companies’ continued expansion in the Western U.S., its long-term conviction in Las Vegas, and its broader approach to disciplined growth through market selection, structured capital deployment, and neighborhood-aligned development.
Where is The Presley located?
The Presley is located in the Las Vegas Medical District in Las Vegas, Nevada. The project sits within an area that has attracted sustained investment in medical, academic, and research infrastructure and is evolving into a more complete urban neighborhood.
How many units will The Presley include?
What is the total project cost of The Presley?
Where is the Las Vegas Medical District located?
Why did CEDARst Companies choose the Las Vegas Medical District?
Why is Las Vegas a priority market for CEDARst Companies?
Is The Presley part of an Opportunity Zone strategy?
Yes. The Presley is located within a designated Qualified Opportunity Zone. CEDARst Companies states that this structure supports long-duration capital deployment within a tax-advantaged framework that aligns investor interests with long-term community development.
How does The Presley fit into CEDARst Companies' broader portfolio?
What will The Presley offer residents?
The Presley is planned as a professionally oriented residential community with amenities such as fitness facilities, coworking spaces, and elevated common areas designed to support both productivity and quality of life. The project will also include an affordable housing component as part of its community-oriented positioning.
What makes The Presley different from a typical multifamily project?
Its differentiator is not just scale or location, but first-mover significance. As the first residential development planned for the Las Vegas Medical District, The Presley helps establish the district’s residential identity and sets an early benchmark for how housing can support a healthcare- and innovation-driven employment corridor
How does The Presley relate to CEDARst Companies' other Las Vegas projects?
What does this groundbreaking signal about CEDARst Companies' development strategy?
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