Kinella Capital Discusses One Camelback on KTAR News

Date: December 19, 2025

Source: KTAR News 92.3 FM – The Chris & Joe Show

TK Stratton, Founder and CEO of Kinella Capital, joined The Chris & Joe Show on KTAR News to discuss the restart of One Camelback and the broader role office-to-residential conversions can play in Phoenix’s evolving housing market.

During the segment, Stratton walked listeners through the history of the project at Central Avenue and Camelback Road, explaining how the former office tower had already undergone extensive entitlement, design, and construction work before broader market forces—including the pandemic, rising interest rates, and construction disruptions— caused the redevelopment to stall.

Why One Camelback Stalled and Why It Is Restarting

Stratton emphasized that the prior redevelopment team completed significant work, stripping the building to its concrete structure and installing new glass, mechanical, electrical, and plumbing systems. However, many people never saw the interior because the project had not reached a stage where occupancy or tours were possible. According to Stratton, the quality of construction and finishes inside the building remained exceptional.

Kinella Capital evaluated the project based on its structural integrity, location, and long-term viability rather than its stalled status. Stratton described the risk inherent in distressed projects, noting that redevelopment requires experience with complex construction conditions and uncertainty.

Project Overview and Timeline

One Camelback is being completed as a 163-unit luxury apartment community, supported by approximately 11,000 square feet of ground-floor retail. The location offers walkable access to Uptown Plaza, nearby restaurants, and transit, making it one of the most connected residential sites in Uptown Phoenix.

Stratton noted that construction will continue over the next year, with work focused on completing amenities such as the fitness center, clubhouse, atrium spaces, parking areas, and exterior features. Pre-leasing is anticipated as final phases near completion.

Perspective on Housing and Adaptive Reuse

The conversation also addressed Phoenix’s broader housing environment. Stratton explained why many new developments skew toward the higher end of the market, citing construction costs, interest rates, and financing constraints. He added that while adaptive reuse can be effective in some cases, not every office building is suitable for residential conversion.

In the case of One Camelback, the building’s layout, floor plates, and structural design made it well suited for residential use, allowing the project to move forward rather than remain vacant or underutilized.

Looking Ahead

Stratton explained that projects like One Camelback can help activate urban corridors, support nearby businesses, and expand housing options in established neighborhoods. With the right capital structure and execution, adaptive reuse can deliver long-term value for both investors and the community.

Listen to the full KTAR segment

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For more information about One Camelback or Kinella Capital’s approach to complex redevelopment and adaptive reuse, please contact info@kinellacapital.com.