Plaza, as many Puerto Ricans know the center as, is the largest mall in the Caribbean. It was also the first mall built in Puerto Rico. In the following years after it inaugurated, many other malls tried to imitate Plazas success, most notably Plaza Carolina in Carolina, Rio Hondo Plaza in Bayamon, Plaza del Carmen in Caguas, Mayaguez Mall in Mayaguez and Plaza del Caribe in Arecibo.
The concept of Plaza las Americas was first thought about by the end of the 1950s, by members of the Fonalledas family, an affluent Puerto Rican family. The idea of having an American style, indoor shopping center was met with much skepticism, but construction of the mall began in 1967. On April 12 of 1968, the mall was opened to the public.
During the 1970s, the mall was a one-story only building. It housed many important stores such as Kress, Thom McCan and a Pueblo supermarket.
In 1979, a second and third floor were begun to be built, and they were inaugurated in 1980. The new space gave room for such stores as Sears, JC Penney, Time Out, Zales Jewerly, Gordon's, and many others to open. Additionally, many other, specialty stores (The Hobby Store, La Casa de los Tapes, etc.) as well as a restaurant area known as La Terraza opened. La Terraza housed the above mentioned Time Out (a video arcade play center), a cinema and many restaurants such as Sbarros, Orange Julius, Burger King, Taco Maker, The Hot Potato and many more. In addition to all the new stores, a multiple electric stairs system and elevators were also inaugurated, as well as a water fountain that is located on the first floor and raises up to the mall's roof.
During the 1990s and 2000s such stores as Toys R US and Rooms To Go were opened, and a 146,000 square feet building consisting of medical, law and other types of offices were opened.
Plaza las Americas remains as one of Puerto Rico's leading shopping centers.