The third phase of the Hayden Ferry Lakeside project is a story of perseverance and patience. Shelved in 2007 due to the economic slowdown, progress on the development had ground to a halt. After changes in ownership, and facing the prospect of a building permit expiring, Parkway Properties, Inc., and Ryan forged ahead with construction of the third of three office towers located in the heart of Tempe, Arizona. Negotiations through the entitlement process were extremely lengthy, but Ryan’s relationship with the city and our positive reputation in Tempe were paramount to getting the project pushed through. This was the first spec project developed in Tempe since the recession, and the city put their faith in us to get the job done.
The sleek design of Hayden Ferry III complements the first and second buildings, and the modern plaza invites observers to marvel at the spectacular architecture, including an exterior all-glass curtain wall stretching to 17 feet tall in the lobby. Despite a highly constrained site with limited staging and lay down area for materials and equipment, we kept work progressing along the aggressive schedule through careful pre-planning, just-in-time delivery and extensive coordination with subcontractors. Ongoing communication with the existing tenants and landlord was essential as we worked to keep parking and work disruptions to a minimum throughout construction.
This best-in-class office project now commands the highest rent in the Valley largely due to its efficiency and innovation—before construction was even complete, the space was nearly 90 percent leased. The final phase of Hayden Ferry Lakeside III has exceeded expectations at every turn and continues to draw interest from across the country, with a number of tech companies now choosing to pass over Silicon Valley and locate in the booming new Tempe market instead.