CEDARst Companies Breaks Ground on 236-Unit The Oscar Apartment Complex in Las Vegas Medical District

Chicago-based CEDARst held a ceremonial groundbreaking Thursday for The Oscar, a 236-unit, seven-story multifamily project near the southeast corner of Alta Drive and Tonopah Drive in Las Vegas' Medical District, the firm announced. Completion is targeted for 2028.

Project Details: A High-Density Departure from Typical Las Vegas Development

Named for former Las Vegas Mayor Oscar Goodman, The Oscar will rise seven stories on approximately one acre — a footprint that stands in contrast to the garden-style apartment complexes that dominate the Las Vegas Valley. Those properties typically consist of numerous small buildings spread across 15 to 20 acres with surface parking.

The Oscar will incorporate a partially underground parking garage. Planned amenities include coworking space, a residential lounge opening to a pool deck, a fitness center, and a golf simulator, according to Cedar Street director Griffin Epping.

Epping described CEDARst as urban developers who like to "push density," or build a high concentration of units on a small plot.

Development History and Interest Rate Headwinds

The Oscar has been in the pipeline for several years. The Las Vegas City Council initially approved plans for the site in fall 2022, when records showed a 200-unit complex was proposed. The unit count has since grown to 236.

Epping attributed the delay in breaking ground primarily to elevated interest rates, which increased borrowing costs and created spillover effects across the broader economy.

Mayor Shelley Berkley, speaking at the groundbreaking event, said workers in the Medical District have told city officials they want more housing nearby. The Medical District is generally bordered by Charleston Boulevard to the south, Rancho Drive to the west, and Interstate 15 to the east, and encompasses University Medical Center, UNLV's medical school, Valley Hospital Medical Center, and other facilities.

CEDARst's Growing Las Vegas Portfolio

The Oscar is not CEDARst's only active project in Las Vegas. The firm is also developing The Myles, a 310-unit apartment complex at the corner of Commerce Street and Imperial Avenue in the Arts District. Epping said that construction is wrapping up on The Myles and that the first move-ins are slated for May.

Sources: CEDARst Companies press release, March 20, 2026