Towers on Capitol Mall
Encyclopedia
The Towers on Capitol Mall were two 53-story, 615 foot (187 m) mixed-use towers to be built in downtown Sacramento, California
. The buildings (The Towers on Capitol Mall I & II) were planned to have 804 condominiums, a 200 room InterContinental Hotel, and ground floor retail
. 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
. The project had been on hold since January 7, 2007 due to liens being filed against developer John Saca, 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
is now teaming up with Los Angeles
-based CIM to develop the downtown Sacramento block into a similar but smaller high-rise construction project consisting of a hotel, condominiums 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.
which at one time was home to the Sacramento Union
newspaper.
Sacramento, California
Sacramento is the capital city of the U.S. state of California and the county seat of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With a population of 466,488 at the 2010 census,...
. The buildings (The Towers on Capitol Mall I & II) were planned to have 804 condominiums, a 200 room InterContinental Hotel, and ground floor retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
. 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 (Sacramento)
Wells Fargo Center is a office building in downtown Sacramento California. Construction on the skyscraper began in 1990 with completion in 1992, and yet stands as the tallest building in the city. The building occupies a city block, and features a five-story granite and marble walled interior...
. The project had been on hold since January 7, 2007 due to liens being filed against developer John Saca, 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
CalPERS
The California Public Employees' Retirement System or CalPERS is an agency in the California executive branch that "manages pension and health benefits for more than 1.6 million California public employees, retirees, and their families"...
is now teaming up with Los Angeles
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
-based CIM to develop the downtown Sacramento block into a similar but smaller high-rise construction project consisting of a hotel, condominiums 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 and within a few blocks from the California State CapitolCalifornia State Capitol
The California State Capitol is home to the government of California. The building houses the bicameral state legislature and the office of the governor....
which at one time was home to the Sacramento Union
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 The Sacramento Bee, which was founded in 1857, just six...
newspaper.