For years, One Camelback sat empty – a shimmering glass landmark at the corner of Central Avenue and Camelback Road. Now, in what some insiders are calling the most important residential revival in the Valley, the landmark building has a new champion and a long-awaited second life has officially begun.
Kinella Capital, LLC, led by developer TK Stratton, has officially taken control of the stalled project – and Stratton says the building’s future is no longer in question. Kinella Capital acquired the property from Acore Capital after the project stalled. To relaunch the project, Kinella partnered with Post Road Group for debt financing and supplied the equity needed to get the comeback underway.
Stratton, whose firm has restored and renovated thousands of distressed properties, said he knew immediately that the building deserved a second life.
Features include a 150-foot glass atrium that feels more like a European gallery than an apartment lobby, floor-to-ceiling windows with sweeping views of Uptown, Midtown, Camelback Mountain and beyond, and a spectacular 1,800-square-foot, three-bedroom residence on Level 11 that Stratton describes as “one of the most breathtaking units in the entire city.” In addition, a future rooftop pool and lounge are engineered to capture the skyline, and modern fitness and wellness spaces, technology-forward amenities and secure parking add to walkable access to restaurants, retail and light rail.
Consisting of studios, one- two- and three-bedroom units, ranging from 522 to 1,819 square feet, visible progress at One Camelback is expected within 12 months, with phased occupancy to follow. For more information, visit www.onecamelback.com.
