Construction of the project began on June 11, 1989 and resulted in the development of the Bicentennial Commons and the AK Steel Pavilion. Construction of the lake portion of the project was put to a halt by the Army Corps of Engineers, after the city removed a levy without proper permission, and caused silt to flow into the river. Eventually, the project garnered the nickname of Lake Mistake. Construction of the lake was not resumed. The project also called for the development of housing overlooking the river, but an attempt was never made.