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The first major hotel built in downtown Sacramento since 1930, the El Mirador opened Deecember 5, 1957 at a cost of 1.8 million dollars under the ownership of builder-investor Fred Kaiser. Troubles early on forced the sale of "Sacramento's Luxury Hotel of tomorrow overlooking Capitol Park" to a partnership of San Francisco investors in 1959 who planned on adding a wing to accomodate a new dining area and guest rooms. Modern touches included individually controlled heating and air conditioning, piped-in music and television, subterranean parking and drive-in registration, but the El Mirador faltered and in 1969 it was sold to the Cosmopolitan Hotel Corporation of Spokane, Washington. The structure was razed in 1975, and the corner of 13th and N is currently occupied by Park Place Senior Community and may house older residents with memories of the El Mirador and its Sky Room from the glory days.