The mall was built with a single-level format similar in design to nearby West Oaks Mall that was positioned as being "family-friendly", with carpeted walkways and skylights; original anchors were Foley's, Dillard's, JCPenney and Mervyn's (the latter store of which opened as the first (and only) Mervyn's California in Greater Houston), along with over 100 stores and a food court, dubbed the Sugar Land Cafes.

The mall also had a gradual impact on West Oaks Mall, which drew a large customer base from Sugar Land and Fort Bend County since its 1984 opening, but still continued to draw customers from its trade area in Houston's Energy Corridor as well as the nearby Greater Katy area.

[3] Over time, as the Sugar Land area grew both physically and economically, and Sharpstown began to lose more prominent national chains, First Colony Mall slowly began to add more upscale stores such as Williams Sonoma (which has since closed) and newer concepts including Hollister Co. to its specialty store lineup.

In 2005, the mall's first anchor change occurred when Mervyn's announced it would close its First Colony location as the chain exited Houston entirely.

At the same time, the mall underwent an expansion that added an open-air "lifestyle" wing in front of the main entrance, anchored by bookseller Barnes & Noble which relocated from an adjacent shopping center and a courtyard of restaurants including The Cheesecake Factory and Grimaldi's Pizzeria.

[4] The store, one of six added across the Greater Houston region (all but one at malls owned by Brookfield Properties, is located adjacent to the former exterior food court entrance.