Back in the 1960s it was called Panorama Inn.

It boasted the only spot for fine dining in Rio Rancho. Now, it’s seems like a lifetime ago.

The Rio Rancho Inn, alias the Panorama Inn, is undergoing an extensive facelift. That should be good news for the city and area business owners, now that the inn’s new owner, Sang Chae of Tacoma, Wash., has poured at least a half-million dollars n and an inestimable amount of “sweat equity,” he says n into the remodel job.

“I’m a sucker for new challenges,” Chae said.

When the project is completed, including re-opening the Roundup Steakhouse and a new tequila bar, the Rio Rancho Inn will once again be a great venue for conventions in the city.

That into more money spent by the convention-goers and guests, and that in turn means more gross receipts taxes for the city.

“My goal is to make this property something the citizens of Rio Rancho can be proud of,” Chae said.

The business entrepreneur, who owns five hotels across the western U.S., also owns the Country Inn and Suites near the Albuquerque Sunport. His golden rule for acquiring a property, he said, is making it meet the quality standards he would like for his own family.

“We’re almost there,” Chae said Monday morning as he showed an interested visitor around the property. “I’m feeling good about where we’re going to be in 20 days.”

Old-timers probably remember their first meal at the Panorama Inn on NM 528 n referred to then as Rio Rancho Boulevard n just north of Sara Road. It’s been owned by numerous parties, and been the scene of countless others since 1967 when it opened.

But Judi Snow, executive director of the Rio Rancho Convention and Visitors Bureau, said the state the inn had fallen into in recent years hurt her ability to attract conventions. And that was like a double-edged sword, because a lot of the inn’s conventions were repeat affairs.

“It is the only full-service property that we have in the city, so for any kind of meeting or event that needs a first-class property, this is the place,” she explained.

Back when the Beatles were still together and AMREP Southwest was enticing New Yorkers to buy property when they retired, “This was the place,” Snow said.

Also on Monday, Snow could be seen checking into the availability of the inn for a large state tourism event, which would bring in more than 300 guests. Cheryl Angel, the interim general manager, said that December dates looked available.

Chae is overseeing enlarging the lobby, which he said was too small for a building of that magnitude.

Rio Ranchoans happy to be able to dine and attend events at the inn should be thankful Chae and his wife, Connie, got lost on a previous trip here a few years ago.

As he tells it, still laughing at the memory, the couple was headed to a Best Western Inn in Albuquerque and wound up here while the hotel was a franchise of Best Western.

Miffed when the clerk couldn’t find their reservations, Chae realized they weren’t in Albuquerque where they had a reservation, but rather in Rio Rancho.

“It was in pretty horrible shape,” he recalled. “A year later, when we were looking for a hotel (to buy), they had this one for sale. I decided to buy it. I knew this was going to be a project.”

Some may not recognize the inn now, what with the plush Roundup Steakhouse decor and the spacious new lobby with the “tree of life” antique benches brought here from Mexico by Chae. Also to be found is artwork by noted artist Goghwen Lee, a friend of Chae.

Aztec and Mayan “warriors” stand guard. There are two large steel horses outside the front doors.

Chae says he will have what he calls a “historical alley” n images of New Mexico and Rio Rancho n shown along the hallway that leads to the various meeting rooms.

The names of those rooms n Sunset, Taos, Santa Fe and Rio Rancho n haven’t been changed. And there are still 117 rooms for guests to check into with a renovated swimming pool. A pond and fountain have been added to the western end of the property.

“It was actually a lot of work to get it up to code,” Chae said of the pool.

Although it’s probably safe to say nobody’s ever compared the City of Vision with Palm Springs, Calif., Chae vows, “We will strive to give the same kind of service we give at our Palm Springs property.”

The grand opening of the Rio Rancho Inn is expected to be the last week of July.