Court considers plan for condo tower

The fate of the multicolored Summit at Copper Square condo tower near Chase Field now lies in the hands of an Illinois bankruptcy court judge. In October, the building's owners sought Chapter 11 bankruptcy protection to prevent its lender from foreclosing on 74 unsold luxury condominium units. Last week, the Summit's lawyers submitted a reorganization plan that would allow the building's owners to retain control of those unsold units and market them as upscale extended-stay hotel rooms. Income from hotel operations would help pay off the debts, according to the plan.

Click here to view this article from its source.