When Was The Mall Of America Built ?
The Mall of America is the brain child of the Ghermezian brothers, who are Canadians. The design of the mall was conceived by the Triple Five Group. The Ghermezian brothers are also the owners of the largest Canadian mall, which is known as the West Edmonton Mall. Initially, the proposed site for the mall was the site of the Minnesota Stadium. The Minnesota Vikings and the Twins played in this stadium.
The mall construction started in 1889. The Mall was opened in 1992. It was the groundbreaking development for Minnesota. The Mall of America became very popular even while the construction and earned nicknames like Megamall and the Sprawl of America. Some people even called it the Huge Dale after the major Dale shopping malls. Later on, it took the name of “The Mall” in a simple sense and that there was no other like it.
There are more than 520 stores in the mall and it also features an aquarium and a Nickelodeon theme park within its premises. There are nearly 12,000 employees who work for the mall.
Despite being a major revenue source for the state, the Mall of America did run into several problems. Mardi Grass, a featured bar of the mall, had to shut down because of lewd exposure and some alcohol-related problems. Fat Tuesdays, another budding restaurant had to shut doors for the same reason. They were warned several times by the Bloomington Police but when they did not heed they were forced to shut down.
There are only a handful of businesses on the 4th floor of the mall today like the Hooters, Cantina, and some theaters. Planet Hollywood was extremely successful in the mall but they closed the facility during recession. The mall also got into legal tangles and some of which were in the favor of Ghermezian brothers. In the year 2003, the mall fought the Simon Property Group, who were actually the managing partners of the mall, over the ownership of the site. However, the verdict of the case went in favor of the Ghermezian Brothers. The dispute started in 1999. The Simon Group purchased the Teachers Insurance, which gave them an ownership or stake of 27.5 percent. The Ghermezian brothers maintained that they were never informed about such a deal. After a six years battle, the Ghermezian Brothers managed to get control over this mall in 2006. They spent $1 billion on the case.
The mall did go through losses during the recession, just like most other retail businesses in the US. However, now they are showing signs of improvement through their various investments.
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Wikipedia: Mall of America