The mall faced new competition after the 1991 redevelopment of the former Westroads Shopping Center into the St. Louis Galleria.

[1][5] In 2006, the almost-vacant "dead mall" closed,[6] and was bought by The Pyramid Companies and was planned to be turned into condominiums and retail space, though the plan was never realized,[3] as Pyramid closed in 2008 due to financial troubles.

[7] The mall was foreclosed in 2009 by lender Bank of America and later bought for $12.7 million by Environmental Operations.

Earlier, the Missouri Development Finance Board had approved a $5 million loan for the project.

[7] In May 2010, work began to convert part of the building into a 750-car parking garage and retail/entertainment complex called Mercantile Exchange.