PHOENIX (AZFamily) — It’s an 11-story building that’s impossible to miss on the corner of Camelback Road and Central Avenue in Phoenix.
You’ve probably driven by “One Camelback” for years: so why is it still empty?
After years of financial setbacks and other issues for the previous owner, Kinella Capital purchased the converted office building last year for $36 million.
Construction is about 80% complete, and the firm’s CEO, TK Stratton, says it will include 136 “luxury” rental units. He hopes to have it open for tenants within a year.
The long-empty “One Camelback” apartment complex is finally seeing some changes, including luxury decor and amenities.(Arizona’s Family)
While Arizona’s Family asked multiple times, it’s still unclear how expensive each unit will be.
After sitting vacant for years, Stratton says work still needs to be done on the roof, the pool deck, among other areas.
“Roughly 145 units are pretty much complete,” Stratton recently told Arizona’s Family. “Some of the common areas are complete. They have to finish the remaining units and common areas and this will be up and running.”
The first floor of the building will include about 11,000 square feet of retail space. Here’s more information on the building.
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