The buildings (The Towers on Capitol Mall I & II) were planned to have 804 condominia, a 200 room InterContinental Hotel, and ground floor retail.

The project had been on hold since January 7, 2007, due to liens being filed against developer John Saca, totaling $7.3 million.

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, 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.

The project's title/escrow firm, First American Title Company is in the process of returning all earnest deposits to the buyers.