PHOENIX — Construction has begun on a new 23-story building going up near Roosevelt Row in downtown Phoenix.
Hatteras Sky, a commercial real estate firm, says the ground has been broken on its latest development project near First Avenue and McKinley Street.
Known as "Saiya," the mixed-use apartment building will contain 389 residential units and up to 12,550 square-feet of retail space.
“Saiya is a unique and attractive opportunity to bridge the gap between Phoenix’s housing supply and soaring housing demand, while also providing future residents with extraordinary access to the best of Roosevelt Row’s arts, parks, entertainment, food and beverage district,” said Oz Friedmann, managing director of development at Hatteras Sky.
Developers say the new building will include the preservation of Phoenix's historic McKinley Medical Office building.
Project plans for Saiya include amenities such as a rooftop pool, outdoor courtyards, fitness center, game room and dog park.
The building's first residential units are expected to be ready to be rented out by the summer of 2024.
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