A groundbreaking ceremony has been held for the construction of Saiya, a 389-unit mixed-use property in Phoenix. The development will be a 23-story structure with 12,550 square feet of ground-floor retail and dining space.
Saiya in Phoenix is developed by Hatteras Sky, along with its capital partner Bridge Investment Group. The project is being financed by East West Bank and Poppy Bank, with JE Dunn serving as the general contractor.
The civil engineer is RPA, a company based near Ardurra.
Featured amenities
Data from Yardi Matrix indicates that a few units of the Saiya in Phoenix will feature private balconies or patios. In addition, the development will have a deck pool, rooftop pool, game room, fitness center, bar lounge, and dog park.
Furthermore, the high-rise development is situated in the Roosevelt Row neighborhood of downtown Phoenix, particularly at First Avenue and West McKinley Street. From here it reportedly takes approximately 4 minutes to walk to the Central Avenue Valley METRO Light Rail station.
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Additionally, the location provides prospective residents with quick, walkable access to the best of Roosevelt Row’s arts, parks, entertainment, food, and beverage sector. This is according to Oz Friedmann, the principal & managing director of development at Hatteras Sky.
Friedmann added that expected to be delivered in the summer of 2024, Saiya in Phoenix will also offer easy access to all that Downtown Phoenix has to offer.
The neighborhood of Saiya in Phoenix
The neighborhood where Saiya in Phoenix is being developed has experienced urban regeneration, restoring old bungalows and building new infill structures. However, the historic McKinley Medical Office building will be preserved by the community, which Shepley Bulfinch designed.
Moreover, one of the nation’s best rental growth performances in 2021 came from the Phoenix metro area, which slowed in the first quarter of 2022. Bridge Investment Group has been slowly investing in the Arizona market this year. The company paid $178 million in July to buy a Tucson neighborhood. In April, the company also bought three multifamily homes, two of which were in Phoenix.
