Located in the Las Vegas Arts District, the mixed-use development will have 311 multifamily units

CEDARst and Bridge Break Ground in Las Vegas

$112M Flats Arts District Underway

CEDARst Cos. and joint venture partner Bridge Investment Group have broken ground on Flats Arts District, a 311-unit multifamily development in the Las Vegas Arts District. Construction of the $112 million project is expected to take two years with the first units delivered in mid-year 2026.

It is the third ground-up multifamily development from CEDARst, a Chicago-based real estate development platform, and alternative investment manager Bridge Investment Group. The two companies joined forces in October 2021, intending to develop properties in Opportunity Zones across the U.S.

Expanding a National Portfolio

The partners have completed two previous joint venture developments in San Diego and Vancouver, Wash. The San Diego project is the most recent development the JV partners have completed. The Nash, a $72.4 million, 190-unit multifamily community, opened in May at 4125 Park Blvd.

Arts District property

For their latest project, the partners acquired the 2.3-acre parcel, located in a qualified opportunity zone in the Las Vegas Arts District, in February. The development will include a mix of studio, one-bedroom, two-bedroom and three-bedroom units. The property will also have about 5,100 square feet of ground-floor retail space and 317 parking spaces within a structured garage.

High-End Features and Amenities

Apartments will feature in-unit laundry, balconies, state-of-the-art appliances, smart-home systems and keyless entry. Community amenities will include a large fitness center, resort-style spa facilities with water circuitry and saunas, coworking spaces and a sunset deck and lounge.

The Arts District is located less than 5 miles from the Las Vegas Strip and features boutique coffee shops and restaurants. The site also has proximity to the thriving entertainment area.