The Phoenix skyline is set to warmly welcome the final touches to One Camelback, an ex-office building-turned-luxury residences after a two-year vacancy and stalled construction efforts. The project, situated at the critical juncture of Central Avenue and Camelback Road, is resuming under new ownership with a targeted completion date that aims to start accepting pre-leases by late 2026, as per a FOX 10 Phoenix report.
Stratton, who recently took over the development, plans to highlight the building’s prime location and luxury potential. ‘I see a project that is unique,’ he told FOX 10 Phoenix. The Strattons—TK and his father—have resumed construction on One Camelback, which will feature 163 units with 11-foot floor-to-ceiling glass walls and a rooftop deck with amenities and valley views.
Cushman & Wakefield handled the sale and arranged financing for the acquisition and construction completion. The property includes a rooftop sky terrace with pool and cabanas, a modern fitness studio, and a pet-friendly environment, AZ Big Media reports.
One Camelback reflects changing urban development trends amid a surplus of office space and the rise of remote work. ‘More people work from home… Companies are being more efficient with their use of office space. We have a glut of office space,’ Alex Horowitz of Pew Charitable Trusts told FOX 10 Phoenix. Horowitz noted that repurposing office space for residential use could help improve housing affordability, even with luxury units.
Stratton expressed confidence in the future of One Camelback. ‘We’re used to problems,’ he told FOX 10 Phoenix, referencing his experience in construction restoration. Kinella Capital, led by Stratton, specializes in reviving paused developments. The building will offer immediate access to the Camelback Light Rail Station, providing convenient transportation for future residents.
