Before Stonewood Center, in the 1940s and 1950s, Downtown Huntington Park was the most popular upscale shopping district for residents of Downey, South Gate, Bell, and Cudahy.

[1] The mall was developed by E. Morris Smith of Newport Beach and on a budget variously reported as $5,000,000 or $12,000,000, on a 62-acre (25 ha) site and designed by Jacobson, Coppedge & Huxley.

[2] Prior to the opening of the mall proper, in February 1956, construction began with a $750,000 coffee shop and restaurant, Stonewood Restaurant, designed by Pereira & Luckman, who also designed the Theme Building at Los Angeles International Airport and numerous other Greater Los Angeles mid-century landmark buildings.

Downey Stonewood Community Bank and a 40,000-square-foot Shopping Bag Food Stores also opened during this time.

The mall opened on October 9, 1958, with a larger gross leasable area than the original plan (390,000 square feet (36,000 m2)) and 40 stores including J. C. Penney, W. T. Grant and Woolworth variety stores, Thrifty Drug, Miller, Miller West Men's, Downey Music and Hollander Cafeteria.