One Camelback Office-to-Apartment Conversion Nearly Complete

Kinella Capital and developer TK Stratton are making strides with One Camelback, the adaptive reuse project that was stalled until earlier this year. Kinella Capital purchased the onetime office building last year for $36 million and is moving fast on the repositioning. The project, on the corner of Camelback and Central, is on track for completion in late 2026. There will be 136 luxury rental units.

Since taking over the property, the team has completed the conversion of 200,000 square feet of office property to apartments and 11,000 square feet of ground-floor retail. The rooftop pool and amenity deck are nearing completion.

Pre-leasing is expected to begin soon, with rental pricing anticipated to be announced ahead of the official leasing launch later this year.