Former Phoenix office tower opens as One Camelback luxury apartments
One Camelback opens in Phoenix
One Camelback, a long-vacant office building in Phoenix, has officially opened as luxury residential space with rents up to $10,000.
PHOENIX - A former eyesore at one of Phoenix's busiest intersections is finally getting a second life. After a decade as an empty office tower, One Camelback is officially opening its doors to residents.
Thirty-two units are already rented, which accounts for about 20% of the building. After years of delays, residents are finally making the building their home.
What they're saying:
"I officially moved in on Friday," said One Camelback resident Evie Haertl.
Finally, One Camelback is open.
"It has been a whirlwind," Haertl said. "But I am just buoyed by the space, the team is fantastic, and the views are unbeatable."
The former Uptown Phoenix office building is welcoming residents at Central Avenue and Camelback Road after years of stalled construction and foreclosure.
"I don't think many people believed it was gonna be done and probably rightfully so," said TK Stratton with Kinella Capital. "It's been over 10 years of everyone promising 'it's gonna be done, it's gonna be done.'"
PREVIOUS COVERAGE
- One Camelback: Phoenix office building converted to apartment now accepting leases
- Work on One Camelback in Phoenix resumes with new owner
By the numbers:
New owners took over last December to finish the job.
"I think all in we have about 80 million dollars into the project to make it really nice and bring it up," Stratton said. "We changed a few things, upgraded the amenities a little bit, and now it's just an awesome place, and really it's the area that makes it even better."
The 163-unit complex features an 11-story atrium. Rents start at $1,625 a month for a 532-square-foot studio and range all the way up to $10,000 for a three-bedroom, 1,900-square-foot penthouse.
"Compared to all of our comps that we're tracking, we are very reasonably and competitively priced. We've got amenities that are unmatched," said Isabelle Brown, senior director with Stellar Residential. "We have an amazing rooftop pool that's unlike no other. We've got a luxury car storage going down in the parking garage. There is a gym in the building. We also have a state-of-the-art clubhouse."
One Camelback: Phoenix office building converted to apartment now accepting leases
The former Uptown Phoenix office building now known as 'One Camelback' has officially opened residential leasing. This comes after years of delays.
Dig deeper:
Designers aimed to match those amenities with a more sophisticated look.
"We have a lot of new construction in the area. A lot of new construction, specifically, coming to downtown Phoenix," said attorney and interior decorator Veronica Manolio. "All of it has a younger vibe. We have a lot of boho chic, and a lot of really youthful decor and I wanted this to feel like home."
Then there are the views.
"You know you're going to have views from every part of the building — whether you're up on level 10 or on level 2," Brown said.
"You can see downtown Phoenix," Stratton said. "You can see Camelback, Biltmore. You can even see downtown Glendale, the stadium from here."
"I have a unit that spans about 180 degrees, so I get just about every view you can imagine of the beautiful, beautiful city," Haertl said.
Work on One Camelback in Phoenix resumes with new owner
The 11-story office building was being turned into luxury apartments until the previous owner ran out of money. Years later, work has finally resumed with a new owner at the helm.
What's next:
The first floor wrapping around the building will be retail. All of the spaces are leased, but are not open quite yet. However, the apartments are ready for move-in.
The Source: Information in this report was gathered from Evie Haertl, One Camelback resident; TK Stratton with Kinella Capital; Isabelle Brown, senior director with Stellar Residential; and Veronica Manolio, attorney and interior decorator.