By 1884, the growing city of Caldwell sought to promote the finer cultural aspects of life and made plans for a new Grand Opera House. That year, an opulent three-story brick structure was erected on this site at a cost of $20,000. The pride of Caldwell, its size and elegance were unmatched anywhere in the Southwest. It seated about 1200 people and contained a roller skating rink in the basement. Its dedication was held on the evening of January 12, 1885, followed by the opening performance of "The Mascotte" by the Fay Templeton Comic Opera Company. Over the years, it became the hub of Caldwell's social scene, hosting events such as graduation ceremonies and visits by major theatrical troupes of the day, including the Boston Opera Company. On February 19, 1918, it was destroyed in a spectacular fire. Nearby businesses were saved, but the building was a total loss, along with 25 trained dogs kenneled in the basement and a number of Home Guard rifles that added to the flames. Plans were immediately begun to build again on the old site, but they never came to fruition.