The mall itself was developed by A. Alfred Taubman, who also developed several other shopping malls in the East Bay Area, including Eastridge Mall in San Jose, Hilltop Mall in Richmond and Sunvalley Mall in Concord. The original anchor tenants were Macy's, Emporium-Capwell, and JCPenney. Nordstrom opened a store in 1990, the same year Emporium-Capwell dropped the double-barrelled name and became simply Emporium. Six years later, Emporium was acquired by the parent company of Macy's, which elected to keep both locations; the original Macy's store was used for their women's departments and their men's and home furnishings departments were relocated to the former Emporium store. 1996 also saw the construction and opening of a Sears store.
Ownership of Stoneridge was to change in the next few years as the Taubman shopping center interests, which had become a publicly traded real estate investment trust in 1992, were reorganized in 1998 and the GM Pension Trust assumed full ownership of Stoneridge, retaining Taubman Centers as manager. In 2004 the GM Pension Trust sold a half interest in a portfolio of shopping centers, including Stoneridge, to The Mills Corporation, which also assumed management of the center.