Clayco Breaks Ground on Ray Phoenix, a Premier Residential Tower in Downtown Phoenix

Phoenix, AZ – June 3, 2024 – Clayco, a leading full-service real estate, architecture, engineering, and design-build construction firm, has broken ground on Ray Phoenix. The design-forward multifamily residential building features one of the region’s most comprehensive amenity packages, spacious studio, one and two-bedroom apartment units with floor-to-ceiling windows offering mountain and skyline views. Developed as a joint venture between Ray and VeLa, the project is set to redefine urban living in the heart of Arizona’s capital city.

On May 31, the company celebrated this strategic development with a ceremonial groundbreaking.  Speakers included Ryan Abbott, Clayco President, Southwest Region; Nick Benjamin, Principal of Vela Development Partners; Will Kluczkowski, Head of Real Estate at Ray; and Christine Mackay, Community and Economic Development Director for the city of Phoenix.

“We’re excited to contribute to the Phoenix skyline with a building whose modernist form and textured green palette will be animated by the changing light and shadows of the desert skies,” said Will Kluczkowski, Head of Real Estate at Ray. “We look forward to contributing to the neighborhood’s existing reputation as an arts destination.”

Designed by world-renowned architectural firm Johnston Marklee & Associates, in partnership with Lamar Johnson Collaborative, and with interiors designed by Parts and Labor Design and Ray’s in-house design team and landscape design by Grace Fuller Design, Ray Phoenix represents a bold vision for the future of multifamily living. This collaboration between industry leaders aims to elevate the resident experience by seamlessly blending inspired design with functional amenities, all within a prime downtown location.

Ray Phoenix will offer 401 luxury apartments across its 26-story, 523,000-square-foot structure. The tower will also house a comprehensive array of amenities, including 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.  There is also 4,500 square feet of ground-level retail available for lease. 

“We are committed to setting a new standard for urban residential living in Phoenix,” said Nick Benjamin, Principal of VeLa. “With Ray Phoenix, we aim to provide a dynamic living environment that enhances the cultural fabric of downtown while offering a range of rental options to suit a diverse community of residents.”

Notable features include a street-level art gallery that will be open to the public and a captivating lobby mural created by acclaimed multimedia artist Alex Israel, further enriching the cultural landscape of downtown Phoenix. Ray will also work with local creatives to develop cultural programming for residents and the larger community.

“This project represents a significant milestone for Clayco’s Residential Business Unit,” said Eric Jaegers, Executive Vice President of Clayco’s Residential Business Unit. “We are excited to collaborate with Ray and VeLa to bring this visionary development to fruition, offering residents of Phoenix a truly exceptional living experience in the heart of the city.”

Ray Phoenix is slated for completion in early 2026.

About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $5.8 billion in revenue for 2023, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit

About LJC
LJC is a full-service design and architecture firm committed to enhancing the quality of the human experience and to improving how design and architecture can impact each individual’s emotional being. By harnessing the power of integrated design, including architecture, workplace strategy, interior design, landscape architecture, urban planning and engineering, the company achieves its clients’ goals and aspirations. For more information, please visit

About Ray 
Ray is a residential development company that is focused on developing space that makes art and culture accessible through daily experiences. Ray’s design approach is aesthetically dynamic, historically informed, and influenced by cultural precedents and practicality with an in-house interior design team which has deep experience in multi-family and hospitality design and processes.  Founder Dasha Zhukova Niarchos was inspired to apply her work within cultural institutions and public art spaces into a new category of the built environment. Dasha established the Garage Museum of Contemporary Art in 2008, seeking to create a space devoted to the discovery and exploration of global art and culture. Her experience at the museum, particularly observing how people interacted with both the art and architecture, was the catalyst for launching Ray. 

About VeLa  
VeLa Development Partners (VeLa) is a national real estate development company founded and led by experienced developers Nick Benjamin and Taylor Gray in partnership with Post Road Group. VeLa is committed to bringing attainable luxury to the hubs of fast-growing urban markets throughout the United States. VeLa’s current portfolio represents more than 3.5 million square feet and more than $1B in development bringing design-forward and lifestyle driven rental buildings to cities in the Southeast, Sunbelt and Mountain West. More information can be found at