Start by soaking the saffron threads in about 2 tablespoons of warm chicken broth. This step unlocks their unique flavor and vibrant color, setting the foundation for your Saffron Seafood Paella.
Heat olive oil in your paella pan over medium heat. Add the chopped onion, garlic, and bell pepper. Cook until softened and fragrant, about 5 minutes. The aromas released here build the base of your dish.
Add the diced chicken breast to the pan. Season with salt, pepper, paprika, and cayenne pepper. Sauté until the chicken pieces are golden and cooked through, about 7-8 minutes.
Stir in the short-grain rice, coating each grain with the flavorful oil and spices. Toast the rice for 2-3 minutes to enhance its nutty flavor.
Pour in the remaining chicken broth along with the saffron-infused broth. Stir gently to distribute everything evenly. Avoid stirring too much from this point to allow a crispy bottom to form.
Bring the mixture to a simmer. Cook uncovered over medium-low heat for about 15 minutes, allowing the rice to absorb the broth and flavors.
Arrange the shrimp, mussels, squid, and green peas on top of the rice. Cover the pan loosely with foil or a lid to steam the seafood until cooked, about 8-10 minutes. The mussels will open, and the shrimp will turn pink and opaque.
Remove from heat and let the paella rest for 5 minutes. This resting time allows the flavors to meld and the rice to firm up slightly. Garnish with chopped parsley and serve with lemon wedges to squeeze over each serving.