New luxury apartments coming to Camelback and Central

Rendering of the One Camelback building, which is being transformed from offices to luxury apartments./PROVIDED BY SAGAMORE CAPITAL LLC/Phoenix Business Journal

By Brandon Brown | Phoenix Business Journal

It’s been about five years since the office tenants started moving out of an 11-story building on the southeast corner of Central Avenue and Camelback Road. In just over a year, tenants are expected to start moving in to luxury apartments.

During the past 18 months, passersby have noticed the uniquely-shaped BMO Harris bank tower, called One Camelback, being gutted. All the glass and concrete panels were removed from the building’s exterior and nothing but an elevator was left inside.

Now a blank canvas, the building’s new owners and development team are ready to turn the structure into some of the highest-priced apartments in the Valley.

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