Vacant Phoenix Office Tower Converted Into Apartments

The One Camelback complex in Uptown Phoenix has opened 163 residential units for prospective renters.

Updated on Sept. 30, 2026 in Commercial

Bold vector editorial illustration of a modern apartment building facade with glass balconies under bright sun, representing urban adaptive reuse. — Developers have opened 163 residential units at the former One Camelback office tower in Uptown Phoenix, completing a long-awaited adaptive reuse project. AI Illustration. Upload story photo >

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Should your community prioritize converting vacant office buildings into luxury apartments to address housing needs?

Developers have completed the conversion of a long-vacant office building at Central Avenue and Camelback Road into a new residential complex. The project, named One Camelback, now offers 163 apartments to local renters.

Why it matters

The adaptive reuse project transforms a property that sat empty for nearly a decade into active housing. This shift revitalizes the Uptown area following years of stalled development caused by financial challenges and market shifts.

The One Camelback complex features 163 residential units with monthly rents ranging from $1,700 to $10,000. Currently, 20% of these units are leased, while the property also includes a 150-foot atrium and fitness center.

The players

Kinella Capital

An investment firm that specializes in real estate acquisitions and property development.

The details

Kinella Capital finished the residential transition by completing engineering and trade work abandoned by previous contractors. The development team repurposed the former office space to include amenities like a rooftop pool, a clubhouse, and the central 150-foot atrium.

December: Kinella Capital acquired the building project.
Early October: Residents are expected to begin moving in.

The Home Front

One Camelback aligns with the broader urban strategy of converting vacant commercial real estate into residential housing to address inventory shortages. This project serves as a key example of how developers are utilizing existing structural shells to navigate current market constraints.

Renters interested in this Uptown location should evaluate the varied rent tiers, which span from $1,700 to $10,000 per month, against their long-term housing budget. If you are touring the facility, pay close attention to how the repurposed office floor plans fit your household layout and storage needs.

The takeaway

This project represents a significant shift in Uptown Phoenix real estate by converting a long-vacant commercial landmark into high-density residential space. Potential residents should schedule a tour to view how the former office design integrates with the new residential floor plans.