Pegasus Development
Sacramento Republic FC Stadium exterior at dusk
Netflix House Dallas exterior morning view
Spark multifamily community Salt Lake City
The Central at 5th high-rise in Midtown Manhattan
SportsSacramento Republic FC Stadium

Masteringcomplexity.Delivering certainty.

Project Management Specialists

SportsEntertainmentGamingHospitalityMultifamily
$0.0B+In Development
0.0M+Square Feet
0+States & Territories
0+Projects Nationwide
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Portfolio

Our portfolio

Over $7.5 billion in development value across 52 projects

Featured Projects

SRFC District Master Plan
Under Construction

SRFC District Master Plan

Sacramento, CA

Master Plan
Under Construction

SRFC District Master Plan

Transformative master plan development anchored by the Republic FC Division 1 stadium, featuring mixed-use, entertainment, and commercial districts in the heart of Sacramento.

Sacramento Republic FC Stadium
Under Construction

Sacramento Republic FC Stadium

Sacramento, CA

State-of-the-art Division 1 soccer stadium development featuring premium amenities, innovative fan experiences, and sustainable design.

Sky River Casino Resort
Under Construction

Sky River Casino Resort

Elk Grove, CA

Major expansion of the premier gaming and entertainment destination, adding a 300-room luxury hotel tower, expanded gaming floor, and resort amenities in partnership with the Wilton Rancheria Tribe.

The Central at 5th, a Hilton Club
Completed 2022

The Central at 5th, a Hilton Club

New York, NY

31-story, 161-key Hilton Grand Vacations high-rise in Midtown Manhattan with 125,000 SF of contemporary studios and suites, steps from Rockefeller Center and Central Park.

All Projects

Netflix House Las Vegas
Under Construction

Netflix House Las Vegas

Las Vegas, NV

Hard Rock Hotel & Casino Tejon
Preconstruction

Hard Rock Hotel & Casino Tejon

Tejon, CA

Museum of Ice Cream
Under Construction

Museum of Ice Cream

Las Vegas, NV

Caroline Florence
Under Construction

Caroline Florence

McKinney, TX

Jefferson Ownsby
Under Construction

Jefferson Ownsby

Celina, TX

Jefferson Whitewood
Under Construction

Jefferson Whitewood

Murrieta, CA

550 Madison Avenue — Aquarian Holdings HQ
Under Construction

550 Madison Avenue — Aquarian Holdings HQ

New York, NY

The Neon Museum
Pre-Construction

The Neon Museum

Las Vegas, NV

Universal Horror Unleashed
Completed 2025

Universal Horror Unleashed

Las Vegas, NV

Netflix House Dallas
Completed 2025

Netflix House Dallas

Dallas, TX

Netflix House Philadelphia
Completed 2025

Netflix House Philadelphia

King of Prussia, PA

The Nest @ Rio Grande
Completed 2025

The Nest @ Rio Grande

Salt Lake City, UT

Spark
Completed 2025

Spark

Salt Lake City, UT

Radio Tave
Completed 2024

Radio Tave

Houston, TX

Alta Filament
Completed 2024

Alta Filament

Charlotte, NC

The Real Unreal
Completed 2023

The Real Unreal

Grapevine, TX

Alta Austin Avenue
Completed 2022

Alta Austin Avenue

Georgetown, TX

The Westin Tempe
Completed 2022

The Westin Tempe

Tempe, AZ

Alta Midtown Park
Completed 2021

Alta Midtown Park

Dallas, TX

Alta West Alabama
Completed 2021

Alta West Alabama

Houston, TX

Omega Mart
Completed 2021

Omega Mart

Las Vegas, NV

Convergence Station
Completed 2021

Convergence Station

Denver, CO

Kingstown Reef
Completed 2020

Kingstown Reef

Orlando, FL

Margaritaville Vacation Club
Completed 2016

Margaritaville Vacation Club

St. Thomas, USVI

Wyndham Desert Blue
Completed 2015

Wyndham Desert Blue

Las Vegas, NV

Wyndham Resort at Avon
Completed 2014

Wyndham Resort at Avon

Avon, CO

26 projects

Select to explore

The Pegasus Standard

Wedon'tjustmanageprojects. Weprotectcapital,acceleratetimelines,anddelivercertainty -withoutcompromise.

Pegasus stands in for ownership day to day, hosting every project meeting, directing consultants and contractors, and holding every party to the deal the owner signed, from predevelopment through closeout.

Independent by Design

Not owned or backed by any corporation. We answer only to our clients, with no vested interests elsewhere.

About the Firm
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About

Your advocates in complex development. From vision to reality.

Headquartered in Las Vegas with offices in Sacramento and New York, Pegasus Development is an owner's representative and project management firm providing comprehensive oversight from entitlement through delivery.

We assemble purpose-built teams of distinguished specialists, coordinated under a single point of accountability - where bold ideas become built legacies.

01

Analyze

Invest with clarity

We interrogate every assumption - budgets, timelines, constructability - so you invest with clarity, not hope.

02

Manage

Nothing falls through

Single-point accountability across scope, cost, and schedule. We drive the process so nothing falls between the cracks.

03

Represent

Your seat at the table

Your seat at the table when you cannot be there. We safeguard owner and lender interests from first dollar to final closeout.

04

Extend

Expertise on demand

Senior-level expertise embedded in your organization - technical advisory, interim leadership, and strategic reinforcement on demand.

Why Us

Single-Point Accountability

One team, one leader, one line of responsibility from first dollar to final closeout.

Transparent Reporting

Real-time dashboards, weekly updates, and unvarnished assessments. No surprises, no spin.

Senior-Level Engagement

The principals who win your business are the ones who manage it. No bait-and-switch staffing.

The Mandate

One interest across the entire arc.Yours.

Where others take equity in the projects they advise, we take none. No capital in the stack. No stake in the contracts, the equipment, or the materials. No corporate parent setting the agenda. From the first feasibility study to the final certificate of occupancy, Pegasus holds a single position: the owner's.

01

Predevelopment

Conviction before capital.

Feasibility, site diligence, capital structure, and entitlement strategy that decide what to build and when to move.

02

Design & Preconstruction

The plan, tested before the pour.

Team assembly, contract negotiation, and constructability review, resolved into a price you can stand behind.

03

Construction

Live truth, not month-old reports.

Single-point command over scope, cost, and schedule, with controls that surface variance before it becomes exposure.

04

Closeout & Activation

Delivered, not merely finished.

Commissioning, turnover, and warranty oversight that protect value long after substantial completion.

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Capabilities

Eight Disciplines. One Standard.

No project too small, no project too big. Whether overseeing a $2B integrated resort or advising on a single capital allocation, every engagement receives the same rigor, the same senior attention, and the same uncompromising pursuit of excellence.

We embed as an extension of your leadership — assembling the right team, negotiating contracts, and holding every consultant accountable. From concept through certificate of occupancy, your capital and your intent are protected.

Trusted by institutional owners on $500M+ developments across gaming, entertainment, and hospitality.

Team Assembly & ProcurementContract NegotiationStakeholder AlignmentEntitlement & Permitting

Specialized advisory and owner representation for tribal gaming, hospitality, and entertainment ventures. We navigate federal trust land regulations, BIA approvals, and tribal-state compacts while embedding within tribal governance structures. Our government affairs expertise ensures sovereign rights are protected and regulatory pathways cleared for development.

Trusted advisors to tribal nations on gaming resorts, trust land development, and government-to-government affairs.

Trust Land AdvisoryGovernment AffairsTribal GovernanceRegulatory Navigation

Stadiums, casinos, mixed-use towers, master-planned communities — we run developments where the margin for error is zero. Single-point control over scope, schedule, cost, and quality so nothing falls between the cracks.

Currently directing more than 9.2M SF of active development across the most demanding asset classes in America.

Scope & Schedule ControlMulti-Stakeholder CoordinationQuality AssuranceRisk Mitigation

Integrated cost, schedule, and change order systems that give you a live pulse on project health. We surface variance before it becomes a problem — and give you the data to make decisions, not guesses.

Our controls methodology has safeguarded over $7.5B in aggregate development value.

Earned Value ManagementCost ForecastingChange Order TrackingPerformance Analytics

Market positioning, site evaluation, feasibility analysis, financial modeling, deal structuring, and entitlement strategy. We help owners and investors evaluate what to build, when to move, and maximize value through disciplined pre-development groundwork and capital structure advisory.

Pre-development intelligence and strategic engagements shaping go/no-go decisions on billions in proposed development.

Market & Feasibility AnalysisSite & Due DiligenceFinancial ModelingDeal Structuring

Independent construction monitoring, draw verification, budget reconciliation, and compliance oversight. We give financial institutions the unvarnished truth about where their money is going and whether the project will deliver.

Retained by national and regional lenders to monitor high-exposure construction loans across all major asset types.

Construction MonitoringDraw ManagementBudget ReconciliationCompliance Verification

Expert navigation of regulatory compliance, approvals, and permitting processes from concept through final occupancy. We manage interdepartmental coordination, public engagement, and agency relationships to accelerate approvals and mitigate delays.

Successfully advanced entitlements across 50+ projects spanning gaming, hospitality, residential, and mixed-use developments.

Regulatory NavigationAgency CoordinationPublic EngagementApproval Management

Overarching coordination of all development phases from acquisition through delivery. We unite planning, design, entitlement, financing, construction, and operations into a single, cohesive strategy that maximizes efficiency and value creation.

Full-cycle development management on $1.2B+ in mixed-use, gaming, and resort-scale projects.

Full-Cycle CoordinationStakeholder IntegrationTimeline OptimizationValue Maximization
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Team

The minds behind the mission.

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Reach

National presence, local expertise

Headquartered in Las Vegas with offices in Sacramento and New York, we have delivered and continue to manage developments across 14 states and territories. No market is beyond our reach.

Las VegasSacramentoNew York
55+
Projects
14
States
30
Markets
Offices
Las Vegas (HQ)
Sacramento
New York
Active Markets
RenoDallasHoustonSalt Lake CityTempeOrlandoMcKinneyGeorgetownGrapevineCelinaDenverAvonAlbuquerqueMesaPhoenixGlendaleGoodyearNorth Las VegasLos AngelesElk GroveMurrietaMarco IslandKing of PrussiaBloomingtonCharlotteSt. ThomasNassau
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Clients

Trusted by industry leaders

We've partnered with top-tier organizations across gaming, hospitality, entertainment, and commercial real estate.

Sacramento Republic FC
Las Vegas Lights FC
Goldman Sachs
Guggenheim
Aquarian Holdings
Cain International
Wilton Rancheria
Tejon Indian Tribe
Hard Rock Casino Tejon
Netflix
Museum of Ice Cream
Marriott Vacation Club
Westin Hotels & Resorts
Sky River Casino
Meow Wolf
Universal Creative
Wyndham Hotels & Resorts
The Neon Museum
And many more across gaming, hospitality, entertainment & real estate
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News & Media

News & Media

FeaturedJuly 8, 2026

Las Vegas Lights FC Announces New Partnership with Pegasus Development

Las Vegas Lights FC announced a new multi-year partnership with Pegasus Development. The firm will entitle the club's final home match of the season on October 17 for Fan Appreciation Night, honoring the final game at historic Cashman Field.

Las Vegas Lights FCRead Article
Press40 Under 40: Art Zargaryan, CEO, Pegasus DevelopmentApril 30, 2026PressArmenian-Born Art Zargaryans Pegasus Development Expands from Las Vegas to Sacramento to Develop Republic FC Stadium and Transform 31-Acre Downtown DistrictApril 8, 2026NewsPegasus Development Joins Republic FC Stadium Development TeamMarch 10, 2026PressSacramento Republic FC to Expand Railyards Stadium to 20,000 SeatsMarch 24, 2026PressArmenian-Owned Firm Expands to Sacramento to Develop Stadium and Downtown DistrictMarch 15, 2026PressArmenian Owned Development Firm Expands to Sacramento to Develop Stadium and Downtown DistrictMarch 13, 2026NewsPegasus Development Takes Lead on Wilton Rancheria and Railyards ProjectsMarch 11, 2026NewsPegasus Development Expands to Sacramento for Republic FC StadiumMarch 2026NewsPegasus Development Joins Republic FC Stadium Development TeamMarch 2026Press550 Madison Ave. - Maybe Midtown's Most Coveted Office Location - Now Nearly 100% LeasedMay 2025PressLas Vegas Project Manager Talks Challenges in Developing Commercial Real Estate2026Press22 Local CEOs to KnowMarch 2026PressGrowing Forward: Builders and Developers in NevadaAugust 2025PressCommunities in Schools of Nevada Appoints Art Zargaryan to BoardSeptember 2025PressMayor's Fund for Las Vegas Life Announces New Board Member Art ZargaryanJuly 2025
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Contact

Let us discuss your next endeavor

Whether you are evaluating a new development, seeking project management expertise, or exploring strategic advisory engagement, we welcome the conversation.

Headquarters

Las Vegas, Nevada

Offices

Sacramento, CA  ·  New York, NY