[8] On December 28, 1969, the Kislak Organization advertised the development of a new 600,000 square feet (56,000 m2) regional enclosed mall named “Plaza del Caribe” in Ponce.

The J. I. Kislak Realty Corp. of Newark, New Jersey, and San Juan, had announced that negotiations had been concluded for a two-story,174,400-square-foot (16,200 m2) department store to be built for Penney's occupancy in Plaza Del Caribe, a regional shopping center that was rising on a 62-acre (25 ha) tract on Exterior Avenue in Ponce.

Plaza Del Caribe, an enclosed, all-weather mall complex was scheduled to comprise more than 500,000 square feet of stores with parking provided for 3,600 cars in its initial stage.

Development consultant and exclusive leasing broker for Plaza Del Caribe was the J. I. Kislak Realty Corp. which maintained a Caribbean regional office in San Juan.

The same broker was an exclusive leasing agent for the Plaza Las Américas in San Juan, the first regional shopping center in Latin America.

[11] On June 25, 1975, it was announced that Plaza del Caribe, projected to cost $25 million, would begin construction in Ponce next September that year.

Final approval for the channeling of the Río Portugués, which served as the border for the new shopping center, had been granted by the Department of Transportation and Public Works and by the Army Corps of Engineers, which, according to the firms, paved the way at the time for the start of construction of the project.

Woolworth, Gordon's Jewelers, González Padín, Thom McAn and Kinney Shoes stores, which would occupy premises in the shopping center.

[13] On June 30, 1990, it was reported that one of the most modern and complete shopping centers in the southern area of the Island, would serve more than 470,000 consumers in the municipalities of the region.

We feel very proud to share in their enthusiasm and to contribute, through Plaza del Caribe, to the economic development of Ponce, as well as the entire southern area," said Jaime Fonalledas, son, president of the Board of the center.

The businessman also highlighted that considerations have been taken in the architectural design of the center so that it contributed to the cultural richness of Ponce and complemented the city's tourist offerings.

[15] In July 2003, Plaza del Caribe would have establishments such as Gap, Old Navy, Tiendas Capri, 5-7-9, Claire's, Champs Sports, Foot Locker, KB Toys, Electronics Boutique, Radio Shack, Rave, Naturalizer, Regis Hairstylists, Time Out, Zales Jewelers, and others.

“We now start the complete renovation and expansion of the food court, where we will be changing the floor, acoustic ceilings, furniture, facades of the eateries and the lighting of the area,” said Valldejuly, adding that although the construction work would begin then, it would be coordinated in a way that did not disrupt the everyday operation of the shopping center.

Part of the food court project included relocating the mall's emblematic “Venus” sculpture from the base of the central atrium stairs.

[24] On January 24, 2014, it was announced that after more than 20 years of being founded, the Plaza del Caribe shopping center, in Ponce, would be carrying out its first expansion, in which it would add a two-story building and more than 200,000 square feet of commercial space, at a cost of more than $30 million.

In an exclusive interview with Jaime Fonalledas, owner of Plaza del Caribe, he indicated that the construction would start during the third quarter of this year, and was expected to be completed by the end of 2015.

Said building would accommodate a total of between 15 and 18 commercial establishments, and on its roof it would feature a large skylight that would allow sunlight to enter and give the two levels a lot of clarity.

Among those tenants who had opted for Plaza del Caribe, he mentioned Sports Authority, Zara, Forever 21, Express, PF Chang's, Longhorn, and Pandora, in addition to Macy's.

[25] On October 22, 2015, it was reported that Plaza del Caribe had been the subject of a significant overhaul that included the construction of a new building featuring Puerto Rico's second ever Macy's department store, being scheduled to open on November 5 of that year.

The expansion project, which entailed an investment of around $40 million also added about 60,000 square feet of space to the original mall structure, which in turn allowed the inclusion of about 18 new stores to the Ponce shopping center.