LAS VEGAS, NV – Chicago-based developer CEDARst Cos. has officially broken ground on a new $82 million multifamily community located in the Las Vegas Medical District, the first residential facility of its kind to be built in that area of the city.
Upon completion, The Presley will take the form of a 275,000-square-foot, 236-unit, seven-story apartment complex, with development fueled in-part via a $56 million North River Partners construction loan. The architect on the project is Booth Hansen and the general contractor is OS Construction.
Located on a on 1.12-acre plot of land at the intersection of Alta and South Tonopah drives, The Presley will be comprised of both studios and one-and two-bedroom apartments, with a percentage of the complex’s overall units – the current number is not currently known – to be designated for affordable housing.
There will be a number of amenities made available for tenants, including a fitness center, a coworking lounge, a golf simulator and a rooftop pool deck overlooking the surrounding cityscape.
The Presley will be the first apartment complex built in the Las Vegas Medical District, addressing a very real and growing need for housing options in that section of the city.
According to a statement released by CEDARst Cos. CEO & Managing Partner Will Murphy, The Presley represents the start of the overall evolution of the Medical District, which has seen large recent investments in clinical, academic and research facilities, making it one of the fastest-growing local economies in the Las Vegas Valley.
The Presley will be CEDARst’s second property in Las Vegas, with the firm also actively developing another residential facility in the form of The Myles, which is a 311-unit complex in the Las Vegas Arts District due to open in spring of 2026.
Development of The Presley is also slated to be completed by spring of 2026.
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management











