CEDARst Companies, the Chicago-based multifamily development and acquisition firm, has officially broken ground on The Presley, a new residential community located within the Las Vegas Medical District. The groundbreaking marks a significant milestone not only for CEDARst Companies but for the Medical District itself, as The Presley is positioned to be the first residential development ever delivered within this rapidly evolving neighborhood. For CEDARst co-founders Alex Samoylovich, Will Murphy, and Mark Heffron, the project reflects the firm's disciplined, long-term approach to identifying high-growth markets before they reach full institutional recognition.
The Las Vegas Medical District has emerged as one of the city's most dynamic economic corridors, attracting sustained capital investment in clinical, academic, and research infrastructure. CEDARst Companies identified the area as a compelling opportunity at the intersection of two macro trends: the accelerating densification of urban medical campuses and the chronic undersupply of quality residential product adjacent to major employment hubs. The Presley is designed to serve the growing professional population working and studying within the district, delivering the curated residential experience that CEDARst Companies has become known for across its national portfolio.
The development is located within a designated Qualified Opportunity Zone, allowing CEDARst Companies and its investment partners to deploy capital within a tax-advantaged structure that aligns long-term hold strategy with meaningful community benefit. The Presley represents the latest in a growing series of QOZ projects for the firm. CEDARst Companies currently has approximately 1,600 units across multiple QOZ developments totaling more than $500 million in total project value, spanning Las Vegas, Chicago, San Diego, and South Florida. The Las Vegas Medical District groundbreaking deepens that commitment and signals continued confidence in markets where institutional fundamentals support durable returns.
Co-founders Alex Samoylovich, Will Murphy, and Mark Heffron have been instrumental in shaping CEDARst Companies' strategic expansion beyond its Chicago roots. Under his co-leadership, the firm has grown to own and operate more than 5,000 units in Chicago while simultaneously building an active Western pipeline that includes multiple Las Vegas developments, a San Diego community, and assets across South Florida. CEDARst Companies now manages a total portfolio of more than 10,000 residential units representing in excess of $4 billion in total asset value. The groundbreaking of The Presley is part of that broader trajectory — a deliberate, market-driven expansion into cities where population growth, employment diversification, and housing undersupply create durable demand for quality residential product.
Las Vegas specifically has become a priority market for CEDARst Companies. The firm is on track to deliver The Myles, a 311-unit multifamily community in the Las Vegas Arts District, in the spring of 2026. That project, developed in partnership with Bridge Investment Group, continues a collaborative relationship that dates to 2021, when the two firms began co-developing Qualified Opportunity Zone properties across the United States. The Presley builds on that regional momentum and further establishes CEDARst Companies as one of the most active multifamily developers operating in Las Vegas today.
The Presley will offer a thoughtfully programmed amenity suite reflective of the Medical District's professional resident profile, including fitness facilities, coworking spaces, and elevated common-area environments designed for residents who expect their home to support both productivity and quality of life. A portion of the community's units will be designated as affordable housing, consistent with CEDARst Companies' broader commitment to building inclusive communities within the markets it serves.
The groundbreaking of The Presley underscores a consistent theme in the co-founding team of Alex Samoylovich, Will Murphy, and Mark Heffron’s approach to development: entering markets with conviction, deploying capital through structured vehicles that align investor and community interests, and delivering assets built for long-term performance. As the Las Vegas Medical District continues its evolution into a full-service urban neighborhood, The Presley is positioned to anchor its residential identity for years to come.
About CEDARst Companies
CEDARst Companies is a Chicago-based vertically integrated multifamily development and acquisition firm. Co-founded by Alex Samoylovich, the company has developed and acquired more than 10,000 residential units representing more than $4 billion in total asset value. CEDARst Companies operates across eight states with a strategic focus on the West Coast, Upper Midwest, and South Florida. The firm maintains offices in Chicago, San Diego, and Miami. For more information, visit cedarst.com.
About Alex Samoylovich
Alex Samoylovich is a real estate developer and entrepreneur focused on multifamily investment, development, and operating execution. He is a Co-founder of CEDARst Companies and has supported projects that require high discipline across underwriting, stakeholder alignment, and delivery controls. His work emphasizes repeatable decisioning, governance-forward documentation, and long-term value creation aligned to neighborhood fundamentals. Learn more by visiting alexsamoylovich.com.
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For more information about Alex Samoylovich, Founder, contact the company here:
Alex Samoylovich, Founder
Office of Alex Samoylovich
(872) 246-5376
office@alexsamoylovich.com
151 W Huron St
Chicago, IL 60654
