After years of speculation and a high-profile reset, One Camelback is no longer a question mark on the Uptown skyline. Today, it stands as a construction site in motion. Led by Kinella Capital, LLC and developer TK Stratton, the long-stalled office-to-residential conversion has entered an active phase, with major milestones signaling that one of Phoenix’s most closely watched projects is back on track for completion in late 2026.
Since taking over the property, the team has pushed forward with infrastructure upgrades and visible transformation. The rooftop pool and amenity deck are nearing completion, designed to capture views of Uptown and the surrounding mountains, while interior work has entered a new phase, with drywall installation underway in the clubhouse.
Outside, site development is taking shape, defining both arrival and street presence, while behind the scenes, critical upgrades to plumbing, HVAC, and technology systems have brought the building up to modern residential standards. Fire-life-safety systems have also been fully reengineered, ensuring both performance and peace of mind for future residents.
Collectively, these updates mark a turning point for a project that once sat roughly 80 percent complete. For Stratton, the restart was not just about finishing what had been started, but about improving it. That collaborative effort includes guidance from Stellar Residential, led by Dale Phillips, whose team is helping shape the project’s strategy, operations, and eventual lease-up.
“People have been watching this building for years, waiting to see what would happen,” Phillips said. “Now they’re finally seeing real progress, and the level of detail going into these upgrades is what’s going to set it apart. This isn’t just a restart. It’s a refinement.”
As construction advances, attention is also turning toward what comes next. Pre-leasing is expected to begin soon, with rental pricing anticipated ahead of the official launch later this year. Early interest has already been strong, with both prospective residents and retail tenants eyeing the project’s potential.
That mix will include a retail component at ground level, designed to activate the space and contribute to the walkable, urban energy that defines Uptown Phoenix. Tenant announcements are expected in the coming months. For Phillips, the behind-the-scenes planning is what will ultimately set the development apart.
“From a leasing and operations standpoint, this is one of the most compelling assets in the market right now,” he said. “When you look at the location, the design, and the level of upgrades happening, there really isn’t anything else like it in Uptown.”
Beyond the building, the progress at One Camelback signals something larger for Phoenix. It reflects growing confidence in adaptive reuse projects and a shift toward more design-forward, amenity-rich urban living. With construction moving steadily, systems in place, and leasing on the horizon, One Camelback is transforming long-standing curiosity into a fully realized place to live. For more: onecamelback.com.
