Madison Square Mall opened on August 1, 1984 to a massive crowd, four anchors (JCPenny opened one year later), and a movie theater. It opened in the exact same building as it is now, with looks that were modern at the time. The mall effectively killed one of Huntsville's other major malls, just simply called "The Mall". Being much larger than "The Mall" (which just had one floor and was already in decline), it can be pretty easy to see why Madison Square Mall effectively replaced "The Mall".
Madison Square Mall enjoyed relative success over the next two decades, with the steadily growing city of Huntsville to its east and the rapidly growing town of Madison to its west.
However, Madison Square Mall started to experience a decline in the early 2000s. With the opening of Parkway Place Mall, the Jones Valley Shopping Center, and several other shopping centers in southern Huntsville, a lot of the richer people in Huntsville stopped shopping at Madison Square Mall.
It was further hurt by the fact that rowdy people started hanging around the mall causing trouble, and the management didn't do anything to stop the issue.
The final nail in the coffin for the mall was Bridge Street Town Centre, which is a "lifestyle center" which opened in 2007. Bridge Street effectively took all of the customers from Madison and places west of Huntsville.
In about 2011, the mall was officially approaching its death bed, since people started fighting over things such as Nike shoes, earning the mall the nickname of "the ghetto mall". However, around this time, the theater, which had been declining like the rest of the mall, got new owners who renovated the theater and kicked out the rowdy people, making the theater successful again.
In late 2015, it was revealed that this mall would be torn down to be replaced with a development called "Mid-City Huntsville", which'll be a mixed-use development like Twickenham Square (near Huntsville Hospital). The Madison Square 12 movie theater will remain open.