While not an official neighborhood of Minneapolis, the area is an important commercial district that serves university students with many bars and restaurants.

There are plans to incorporate it into an official neighborhood of Minneapolis along with the surrounding area.

It is part of Southeast Minneapolis, that part of Minneapolis on the East Bank of the Mississippi River and south of Hennepin Avenue The neighborhood is centered roughly around the intersection of Oak Street SE and Washington Avenue SE in Minneapolis.

The name of the area is a reference to the old Memorial Stadium, which was no longer used after the 1981 football season, since the University of Minnesota football team began playing in Metrodome, in downtown Minneapolis.

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