PHOENIX – Developers broke ground last month on a 23-story mixed-use building with nearly 400 apartments in downtown Phoenix.

In addition to 389 residential units, the high-rise project, called Saiya, will bring 12,550 square feet of retail and restaurant space to First Avenue and McKinley Street in the Roosevelt Row area.

Atlanta-based real estate firm Hatteras Sky and Salt Lake City-based Bridge Investment Group are partnering on the development. The first apartments are expected to be ready in the summer of 2024.

Plans call for two pools, including one on the rooftop with a kitchen and bar lounge, along with elevated outdoor courtyards, a fitness center, game room and dog park.

“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 art, entertainment, and food and beverage district as well as all that downtown Phoenix has to offer,” Oz Friedmann, principal and managing director of development at Hatteras Sky, said in a press release.

“Phoenix has experienced dramatic growth, especially in downtown, and we are excited to contribute to the changing skyline.”

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