The Galleria was conceptualised in 1985 by businessman and real estate developer Richard E. Jacobs, who famously purchased the Cleveland Indians baseball team and the existing Tower at Erieview.

Jacobs' planned to convert the Tower's surround plaza into a shopping centre which would serve the Cleveland area.

[2] In 2003, The Galleria and Tower at Erieview were purchased by Werner Minshall, who proposed closing the mall and converting it into a convention centre.

[3] When this development project did not eventuate, Minshall continued to lease tenant spaces to local retailers and vendors.

The Galleria failed to secure an anchoring department store, reliant on small business to support tenancy.