CEDARst/Bridge Team Up on $180M Vegas Apartment Buy

A joint venture between CEDARst Companies and Bridge Investment Group (NYSE: BRDG) has acquired a 2.29-acre site within the Las Vegas Arts District and announced development plans for Flats Arts District, a $180 million, 311-unit apartment community.

The Arts District development is the third ground-up multifamily development pairing together CEDARst and Bridge Investment in a qualified opportunity zone.

The development within the Arts District has been designed to feature 311 units, including 86 studio units, 185 one-bedroom units, 38 two-bedroom units, and two three-bedroom units. On the ground floor there will also be 5,100 square feet of retail space. Apartments will have balconies, a large fitness center, resort-style spa facilities and saunas, curated coworking spaces, and a sunset deck/lounge. Parking will be comprised of 317 stalls. 

The Arts District is located less than five miles northeast of the Las Vegas strip. Groundbreaking is planned for February. The first units are expected to be delivered in the Fourth Quarter 2025.

Register today for Connect Phoenix Multifamily & Single-Family Build-to-Rent, scheduled for April 18 at the Westin Kierland Resort & Spa, Scottsdale, AZ.