Towers on Capitol Mall
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The Towers on Capitol Mall are two 53-story, 615 foot (187 meter) mixed-use towers being built in downtown Sacramento, California. The building is planned to have 834 condominiums, a 200 room Intercontinental Hotel, and ground floor retail. The Towers are notable due to the massive scope and scale of the building, and it will easily surpass the city's current tallest building, the 423 foot (129 meter) Wells Fargo Center. The project has been on hold since January 7th, 2007 due to liens being filed against developer John Saca, totaling $7.3 million.
[edit] Location
The Towers will be located at the address 301 Capitol Mall, a prominent location near the Tower Bridge and within a few blocks from the California State Capitol which at one time was home to the Sacramento Union newspaper.
[edit] Project's Status
Currently, the project is on hold while the developer, John Saca, secures more funds to resume construction. Saca is currently attempting to remove the stake of the equity partner, CalPERS, but cannot do so until another investor is willing to provide Saca the necessary funds.
