One Camelback Opens for Pre-Leasing as Luxury Office-to-Apartment Conversion Nears Completion in Uptown Phoenix
One Camelback Pre-Leasing Now Open: Luxury Phoenix Office Conversion Hits 90% Completion with $1,600–$10K Rents
Phoenix, AZ — A long-awaited transformation at the prominent corner of Camelback Road and Central Avenue has reached a major milestone. One Camelback, an 11-story glass tower formerly occupied by office tenants including a BMO bank branch, is now more than 90% complete and officially open for pre-leasing. Move-ins are slated for early September 2026.
The project marks a high-profile adaptive reuse of a 1985-built, 203,122-square-foot office building with five levels of below-grade precast parking. It has been converted into 163 luxury rental units surrounding a dramatic 11-story central atrium that delivers floor-to-ceiling panoramic views of the Valley. Ground-floor space is dedicated to commercial retail, with tenant announcements expected soon.
Pricing and Floor Plans
Rents position One Camelback among Arizona’s priciest apartment options:
Studios (532–591 sq ft): From $1,600–$1,850/month
1-Bedrooms (689–1,117 sq ft): From $2,200–$3,900/month
2-Bedrooms (1,057–1,582 sq ft): From $3,700–$6,100/month
3-Bedrooms (1,763–1,898 sq ft): From $8,000/month
Penthouses/Uptown Collection (wrap-around 3-bed units): Up to $10,000/month (one penthouse already reserved)
Units feature upgraded finishes including Samsung appliances, exposed concrete ceilings, contoured floor plans, and expansive layouts designed for modern urban living.
Amenities and Lifestyle
Residents will enjoy premium on-site amenities:
Fully-featured fitness studio
Resident clubhouse
Rooftop pool and spa
The signature 150-foot atrium
The location offers walkable access to Uptown Plaza (directly across the street), with Biltmore Fashion Park, Downtown Phoenix, Sky Harbor Airport, and the Phoenix Mountains Preserve all within a short drive.
Development History and Challenges
The project faced significant hurdles. Original tenants vacated around 2015, and the conversion—initially eyed for completion in the first half of 2021—stalled due to financing issues and foreclosure. In December 2025, Mesa-based Kinella Capital LLC acquired the property for $36 million. Construction restarted, reaching about 80% completion by early 2026 and now exceeding 90%. Kinella Capital’s founder and CEO TK Stratton has led the push to completion.
Developers and leasing agents from Stellar Residential highlight the building’s unique shape and structure as a selling point in an underserved Uptown luxury market. They view the project as a potential “stepping stone” for more office-to-residential conversions in Phoenix, despite zoning, design, and entitlement complexities.
Pre-leasing is active now via the official site (onecamelback.com), with reservations coming in daily.
One Camelback Pre-Leasing Now Open: Luxury Phoenix Office Conversion Hits 90% Completion with $1,600–$10K Rents
Uptown Phoenix’s One Camelback, a dramatic 11-story atrium tower, opens pre-leasing for 163 high-end apartments. Move-ins start early September 2026 at the Camelback & Central landmark. Full details on pricing, amenities, and history.
17GEN4 News
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