The fate of a historic warehouse next to the Footprint Center in downtown Phoenix is up in the air following a foreclosure sale of the property.
That warehouse at 39 E. Jackson St. was going to be incorporated into a 25-story Fairmont hotel and residences tower with five restaurants developed by acclaimed Valley chef Alessandro "Alex" Stratta.
But the lender, Aeneas Venture Partners 4 LLC, bought back the building as the sole bidder in a January trustee auction for $17.2 million after the developer defaulted on its $15 million loan, Maricopa County records show.
