It opened in 1982 and is anchored by Marshalls Megastore, Caribbean Cinemas, TJ Maxx, Best Buy, Golden Corral, Pueblo Supermarkets, Chili's Grill & Bar, Walgreens, and PetSmart.

The 350,000 square foot Plaza Río Hondo at the time was first owned and developed by the firm Wilder-Manley Associates and represented an investment of $25 million.

[9] In November 1994, it was reported that the then 394,400 square foot mall would remodel and expand under the ownership of Manley Berenson.

Plaza Río Hondo remained open for business during its fast-track construction schedule, which allowed the renovation to be substantially complete for the 1994 Christmas season.

[14] In April 1998, management at the time Yebba Realty Ventures believed that Plaza Río Hondo required additional food services within the mall.

The total cost of the lease buy-out and food court construction was approximately $4,245,000 thereby equating to a yield on investment of 26.2%.

Marshalls, having the highest grossing opening day in the history of the chain on a sales per square foot basis at the time.

[12] In 2001, Yebba Realty Ventures sold the mall to Caribbean Property Group (CPG) for a purchase price of $16,683,080 million.

Also planned to kick off at Plaza Rio Hondo that year was an expansion of the mall by some 20,000 square feet and the refurbishment of its interiors.

[18] In December 2004, the mall had more than 90 establishments at the time such as a Big Kmart, Marshalls, Tiendas Capri, Walgreens, Pueblo Xtra, Rave, Rave Girls, 5-7-9, Tiendas Kress, Click, Marianne, Clubman, Champs Sports, Foot Locker, KB Toys, Payless ShoeSource, GameStop, RadioShack, Blockbuster Video, Time Out[disambiguation needed], GNC, Pearle Vision Center, Zales, Claire's, Rainbow, and others.

It would also feature food options such as Burger King, Kentucky Fried Chicken, Ponderosa, Soft & Creamy, Subway, Taco Bell, and others.

[20] On August 4, 2011, TJ Maxx would open a 30,000 square foot store at the mall, replacing the space formerly occupied by a Tiendas Capri.

In this portfolio of 9 shopping centers, Plaza Río Hondo was included, making Curzon Puerto Rico the new owners of the mall.

Regarding Aliss' departure from Plaza Río Hondo, Martha E. Hermilla, the senior marketing director of Curzon Puerto Rico, clarified that it had been a decision by the landlord.