The Towers on Capitol Mall were two 53-story, 615 foot (187 m)

mixed-use Mixed-use is a kind of urban development, urban design, urban planning and/or a zoning type that blends multiple uses, such as residential, commercial, cultural, institutional, or entertainment, into one space, where those functions are to some ...

towers to be built in downtown

Sacramento, California ) , image_map = Sacramento County California Incorporated and Unincorporated areas Sacramento Highlighted.svg , mapsize = 250x200px , map_caption = Location within Sacramento C ...

. The buildings (The Towers on Capitol Mall I & II) were planned to have 804 condominia, a 200 room

InterContinental Hotel Intercontinental is an adjective to describe something which relates to more than one continent. Intercontinental may also refer to: * Intercontinental ballistic missile, a long-range guided ballistic missile * InterContinental Hotels Group (IHG ...

, and ground floor

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

. Rumoured retailers include Gucci, Prada, Kenneth Cole and Tiffany & Co. The Towers are notable due to the massive scope and scale of the building, and it would have easily surpassed the city's current tallest building, the 423 foot (129 m)

Wells Fargo Center Wells Fargo Center may refer to: *Wells Fargo Center (Los Angeles), California *Wells Fargo Center (Sacramento), California * Wells Fargo Center (San Francisco), California * Wells Fargo Center for the Arts, Santa Rosa, California * Wells Fargo Cen ...

. The project had been on hold since January 7, 2007 due to

liens A lien ( or ) is a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the ''lienee'' and the pers ...

being filed against developer

John Saca John is a common English name and surname: * John (given name) * John (surname) John may also refer to: New Testament Works * Gospel of John, a title often shortened to John * First Epistle of John, often shortened to 1 John * Second ...

, totaling $7.3 million. Calpers and Deustche Bank have been the primary financial support for the project, however stipulating conditions have led to the collapse of the project.

CalPERS The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".CalPERSFac ...

is now teaming up with

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

-based CIM to develop the downtown Sacramento block into a similar but smaller high-rise construction project consisting of a hotel, condominia and office space. The project would incorporate the original foundation piles that were driven into the bedrock in 2006 to support the weight of the 615-foot (187 m) skyscrapers.

Location

The Towers would have been located at the address 301 Capitol Mall, a prominent location near the

Tower Bridge Tower Bridge is a Listed building#Grade I, Grade I listed combined Bascule bridge, bascule and Suspended-deck suspension bridge, suspension bridge in London, built between 1886 and 1894, designed by Horace Jones (architect), Horace Jones and e ...

and within a few blocks from the

California State Capitol The California State Capitol is the seat of the California state government, located in Sacramento, the state capital of California. The building houses the chambers of the California State Legislature, made up of the Assembly and the Senate, al ...

which at one time was home to the ''

Sacramento Union ''The Sacramento Union'' was a daily newspaper founded in 1851 in Sacramento, California. It was the oldest daily newspaper west of the Mississippi River before it closed its doors after 143 years in January 1994, no longer able to compete with ' ...

'' newspaper.

Project's Status

Currently, the project has ceased sales and construction, until picked up by CalPERS and CIM. The project's title/escrow firm, First American Title Company is in the process of returning all earnest deposits to the buyers. These deposits had been earning interest in a special money market-style account since early 2006.

External links

Skyscraperpage.com
{{DEFAULTSORT:Towers On Capitol Mall Skyscrapers in Sacramento, California Twin towers

Location

Project's Status

See also

External links