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

Mastering Complexity.Delivering Certainty.

Project Management Specialists

Sports · Entertainment · Gaming · Hospitality · Multifamily

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$0.0B+
Safeguarded
0+
Projects
0+
States & Territories
0.0M+
SF Developed
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Hotel Keys
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Multifamily Units

Hotel keys and multifamily units delivered or in development

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Portfolio

A portfolio measured in trust

Over $7.5 billion in development value safeguarded across 54 projects.

Featured Work

SRFC District Master Plan
Under Construction
Master Plan

SRFC District Master Plan

Sacramento, CA

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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
Sports

Sacramento Republic FC Stadium

Sacramento, CA

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Sky River Casino Resort
Under Construction
Gaming

Sky River Casino Resort

Elk Grove, CA

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111-113 East 12th Street
Pre-Construction
Multi-Family

111-113 East 12th Street

New York, NY

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All Projects

Netflix House Las Vegas
Under Construction
Entertainment

Netflix House Las Vegas

Las Vegas, NV

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Hard Rock Hotel & Casino Tejon
Pre-Construction
Gaming

Hard Rock Hotel & Casino Tejon

Tejon, CA

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Caroline Florence
Completed 2026
Multi-Family

Caroline Florence

McKinney, TX

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Jefferson Ownsby
Under Construction
Multi-Family

Jefferson Ownsby

Celina, TX

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Jefferson Whitewood
Under Construction
Multi-Family

Jefferson Whitewood

Murrieta, CA

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550 Madison Avenue: Aquarian Holdings HQ
Completed 2026
Commercial

550 Madison Avenue: Aquarian Holdings HQ

New York, NY

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SRFC Practice Facility
Pre-Construction

SRFC Practice Facility

TBD

The Neon Museum
Pre-Construction
Entertainment

The Neon Museum

Las Vegas, NV

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Museum of Ice Cream
Completed 2026
Entertainment

Museum of Ice Cream

Las Vegas, NV

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Universal Horror Unleashed
Completed 2025
Entertainment

Universal Horror Unleashed

Las Vegas, NV

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Netflix House Dallas
Completed 2025
Entertainment

Netflix House Dallas

Dallas, TX

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Netflix House Philadelphia
Completed 2025
Entertainment

Netflix House Philadelphia

King of Prussia, PA

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The Nest @ Rio Grande
Completed 2025
Multi-Family

The Nest @ Rio Grande

Salt Lake City, UT

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Spark
Completed 2025
Multi-Family

Spark

Salt Lake City, UT

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Radio Tave
Completed 2024
Entertainment

Radio Tave

Houston, TX

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Alta Filament
Completed 2024
Multi-Family

Alta Filament

Charlotte, NC

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The Real Unreal
Completed 2023
Entertainment

The Real Unreal

Grapevine, TX

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Alta Austin Avenue
Completed 2022
Multi-Family

Alta Austin Avenue

Georgetown, TX

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The Central at 5th, a Hilton Club
Completed 2022
Hospitality

The Central at 5th, a Hilton Club

New York, NY

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The Westin Tempe
Completed 2022
Hospitality

The Westin Tempe

Tempe, AZ

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Alta Midtown Park
Completed 2021
Multi-Family

Alta Midtown Park

Dallas, TX

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Alta West Alabama
Completed 2021
Multi-Family

Alta West Alabama

Houston, TX

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Omega Mart
Completed 2021
Entertainment

Omega Mart

Las Vegas, NV

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Convergence Station
Completed 2021
Entertainment

Convergence Station

Denver, CO

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Kingstown Reef
Completed 2020
Hospitality

Kingstown Reef

Orlando, FL

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Margaritaville Vacation Club
Completed 2016
Hospitality

Margaritaville Vacation Club

St. Thomas, USVI

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Wyndham Desert Blue
Completed 2015
Hospitality

Wyndham Desert Blue

Las Vegas, NV

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Wyndham Resort at Avon
Completed 2014
Hospitality

Wyndham Resort at Avon

Avon, CO

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Showing 32 of 54 projects

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About

Not project management alone. We protect the owner's capital.

We stand in for ownership day to day, directing consultants and contractors and holding every party to the deal the owner signed.

Why Us

Single-Point Accountability

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

Unvarnished Reporting

Clear numbers, candid assessments. No spin.

Senior-Level Engagement

The principals who win the work run the work.

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Mandate

We serve one interest, from first sketch to final key.Yours.

No capital in the stack, no stake in the contracts, no corporate parent. Pegasus holds one position: the owner's.

01

Predevelopment

The right project, before the first dollar.

02

Design & Preconstruction

The plan, tested before the pour.

03

Construction

Control that holds under pressure.

04

Closeout & Activation

Delivered, not merely finished.

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Capabilities

Nine disciplines. One standard.

Team Assembly & ProcurementContract NegotiationStakeholder AlignmentEntitlement & Permitting
Trust Land AdvisoryGovernment AffairsTribal GovernanceRegulatory Navigation
Scope & Schedule ControlMulti-Stakeholder CoordinationQuality AssuranceRisk Mitigation
Explore the discipline
Earned Value ManagementCost ForecastingChange Order TrackingPerformance Analytics
Market & Feasibility AnalysisSite & Due DiligenceFinancial ModelingDeal Structuring
Construction MonitoringDraw ManagementBudget ReconciliationCompliance Verification
Regulatory NavigationAgency CoordinationPublic EngagementApproval Management
Full-Cycle CoordinationStakeholder IntegrationTimeline OptimizationValue Maximization
Facilities ManagementHospitality Asset ManagementOperator OversightCapital Planning
Explore the division
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Team

Senior principals. On every engagement.

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Reach

From Las Vegas to New York

Three offices. Projects in 14 states and territories.

Las VegasSacramentoNew York
50+
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

The owners we answer to

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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In the press

On the record.

FeaturedJuly 8, 2026

Las Vegas Lights FC Announces New Partnership with Pegasus Development

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

Tell us about the program

Evaluating a development or already underway, we welcome the conversation.

Headquarters

Las Vegas, Nevada

Offices

Sacramento, CA  ·  New York, NY