[3] The mall was developed and was owned at the time by Plaza Carolina Associates, a coordinated project between General Growth Properties and IBEC.

The store was located in an area of families with modest means, and its high prices were not compatible with the economic situation of the time, which caused low sales.

One of the first spaces to open at La Plazoleta was a Tex Critter's Pizza Jamboree restaurant, the first for the chain outside the United States.

Recent additions to the center and upcoming new stores were showcased by the assistant manager Norman Meléndez.

Preciosa, which specialized in cosmetics and perfumes, had also opened its second store, located on the lower level, just east of the sun sculpture in the center of the mall.

Several other stores were also under construction including: Radio Shack, Fashion Warehouse, Value Slacks, and the Sandwich Marker, an addition to La Plazoleta.

[15] In August 1982, in sales per square foot, it was among the highest 10 percent of mall-type shopping centers in the entire United States.

New entrances were created with glazed ceramic tiles, pink stucco, diagonal candle-shaped walls, and neon lights that illuminate the interior and exterior of the center.

A fountain surrounded by tropical plants was built in the central area that could be covered and become a stage for special events, since it had seats for the public placed in the form of an amphitheater.

The decoration included the installation of glazed tiles topped with shiny metal and neon bands on the corridor columns.

During this time the mall had a total of 1.1 million square feet of retail space with 170 stores, and it was primarily anchored by JCPenney, Sears, González Padín, Woolworth, Tiendas Capri, and a Pueblo Xtra.

[19] In 1999, the mall underwent a $25 million expansion and renovation which added over 60,000 square feet (5,600 m2) in retail, a 12-screen CineVista Theatres, and a 510,000-square-foot (47,000 m2) parking deck.

[20] In August 2000, after its major expansion, Plaza Carolina reported that it continued to add stores to its tenant mix.

would include the Sean John line from singer-producer Puff Daddy in its Plaza Carolina store, which covered 2,641 sq ft (245.4 m2) and was the largest of the U.S.-based chain, according to Juliana Castillo, the mall's marketing manager.

[21] In May 2004, Simon Property Group Inc. completed its 100 percent interest from LaSalle Partners in Plaza Carolina for $309 million dollars.