24TH & CAMELBACK
In 1951, with a vision far ahead of its time, Edward Gray visited the town of Phoenix, AZ where he saw immense potential in a 10-acre property on the southwest corner of 24th street and Camelback road. After swift negotiations, Gray purchased the property from Tom Darlington and the title was transferred June 25, 1951. In the property's early years, various tenants inhabited there such as KoKo Restaurant (closing in the late '50s), Barrows Furniture Company, and Cine Capri Theatre. Edward Gray passed away in the year 1962, leaving his son, Mel, to exit out of law and into the construction business. As the city of Phoneix grew and developers interest of the area peaked, Mel Gray saw the value in furthering the development of the property. The '70s brought a recession, which led to a deal between Mel and the owners of the Barrows Furniture Company and Cine Capri Theatre to build Caf' Casino and a branch bank after negotiations on rent increases and the property's value.
Note: The airport does not appear at South 24th Street.
Shows the furniture store flanked by the recent constructed Cine Capri Theater. To the west, a group of small buildings are a showcase of model homes constructed by local home building company. Across Camelback Road to the North, lies the Arizona Manor Motel where it all started.
Note: The airport does not appear at South 24th Street.
"This will be a great corner someday."
- Edward Gray (1892 - 1962)
In 1977, an appraisal report glowingly described the 24th & Camelback property as "one of the most desirable, large land holdings situated in an urban center anywhere in the southwestern United States. It is without question the most attractive single landholding within the Phoenix metropolitan area." By the mid-'80s, growth was continuing at a rapid pace in Phoenix and the city was responding to public demand for more comprehensive planning and zoning, especially in the "hot" Camelback corridor. The Caf' Casino decided to close its doors at this time and reappraisal of the property was nearing. After a trial commenced between the Gray's and the owners of the furniture store and theatre, it was in favor of the Gray's and the 24th & Camelback property that the appraisal of the property had significantly increased and rent would also increase. By the late '80s and the freedom to plan developments on the property, Mel continued to be heavily involved with the discussions of the city and inhabitants needs of the area.
Come May of 1991, the City Council adopted a specific plan for the Camelback East Primary Core with a comprehensive set of ground rules, which would govern the redevelopment of the property. The furniture store exited the property and a new furniture store filled its place. In the late '90s, the Gray's received a new partner and settled on a three-part development: 2 office buildings and a hotel. The CineCapri movie theater was also still apart of the development at this time, under a new owner after the furniture store owners exited, but the Gray's new partner did not believe there was room in the new development to keep the theatre. Especially since a multi-screen movie house was being built across the street. With these decisions came apparent public opposition that became a serious risk to the entire development. Legal action ensued and demolition of the theatre proceeded in order to prepare the 24th & Camelback site for sale. Phase I and Phase II of the redevelopment continued, but the original development plan that called for a hotel ceased. Instead, plans for a developer to do condominiums on the property became increasingly of interest. A deal was accepted and an innovative and eye-catching condominium building was built on the site in the mid-2000s.
Down the road, the sale of the condo site marked Mel, and the Gray's, final exit from Edward Gray's original 1951 investment.