Ray, VeLa Begin Work on 401-Unit Phoenix Highrise

Ray and VeLa are combining efforts to build a 26-story residential highrise in the Roosevelt Row Arts District. Designed by architectural firm Johnston Marklee & Associates, the Ray Phoenix hopes to leave its mark by making art, architecture, and design highly accessible to its residents. Maricopa County records indicate Axos Bank provided the developers with an $80 million construction loan for the project. 

The high-rise building will incorporate 523,000 square feet, including 401 residential rental units— 193 studios, 116 one-bedrooms (including den and duplex options), and 92 two-bedrooms (including duplex and penthouse options)—a large fitness center, yoga studio, outdoor resort-style pool, communal kitchen and fireplace lounge, sunken lounge with theater experience, dog wash stations, indoor and outdoor gardens, workspaces and more. Additionally, Ray Phoenix will offer more than 4,500 square feet of ground-level retail. Located at 777 N Central Ave two blocks from E Roosevelt Street, residents will be within walking distance to downtown.