Regional real estate developer Jim Wilson & Associates built the mall in Mississippi's capital city in 1978, as one of its portfolio of properties throughout the southeastern United States.

The mall opened with three anchor department stores, Jackson-based McRae's, Alabama-based Gayfers, and national retailer Sears.

A steady pattern of vacancies continued until August 2007, when Burlington Coat Factory opened in the first level of the former Gayfers property to great fanfare, drawing patrons from more than 90 miles away.

By June 2009, Belk announced its intent to close the company's Metrocenter's location in August, in order to focus on suburban properties at Ridgeland's Northpark Mall and Flowood’s Dogwood Festival Market.

Watkins Partners, a Jackson-area real estate developer, announced intentions to move forward with Project Retro Metro in December 2010 and started with its mixed-use redevelopment in January 2011.

Presently the only uses of the mall are the Burlington store, City offices, and scattered small outlets around the center court.

In August 2018, Metrocenter closed its doors though Burlington and parts of the building that hold city offices remained open.