Its opening in 1993 was nationally televised on CNN and attended by then-Pennsylvania Governor Robert P. Casey, Sr., who was instrumental in securing funding for and initiating development of the mall.

The mall is built on approximately half of the former Delaware, Lackawanna and Western Railroad yard that was abandoned by Conrail in the late 1970s.

The mall has two levels with a food court overlooking Steamtown National Historic Site on the second floor.

Due to a missed payment, $613,000 has been withheld from Scranton by the United States Department of Housing and Urban Development.

[2][33] The city of Scranton refinanced the remaining $1,865,000 HUD Section 108 loan in late 2014 and it will be paid over 10 years.

[16][37] The reserve price of $37.3 million ($37,265,000) was not met and LNR Partners purchased the property for $1,567.71, its costs and taxes.

[38][39] The only other bidder was a representative for Robert Bolus, whose bid was declared illegal due to the contingency of a casino license being approved for the property.

Al Boscov did not bid due to the high requested price and plans to continue negotiations with LNR Partners, but estimates it could take $10–20 million in investments to modernize the Mall.

[21][43] Their lease runs through 2024 and Al Boscov was against converting the mall to a farmers' market and other ideas proposed.

[21] The Mall at Steamtown reconstruction (including parking garage) was estimated to cost $33.3 million with money coming from state grants and loans backed by Scranton.

[44] Mayor Bill Courtright initially supported the plan, but later came out against it until repayment of $18 million in loans owed to Scranton is complete.

[6][46][47] The mall was purchased by John Basalyga for $5,512,500 (total with five percent buyer's premium) from LBUBS 2003-C5 Lackawanna Retail Partnership and operates it under the name Steamtown 300 LLC.

Along with the rebranding, Basalyga announced that one of the former anchor stores would be converted to a Luzerne County Community College satellite campus, and that a movie theatre, a large indoor playground, and a space for local vendors were all expected to open during the summer.

Places of interest include Delta Medix, Luzerne County Community College, and Crunch Fitness.