Opened in 1928, the arena was originally called the Exposition building, then the Civic Ice Arena. It was part of the $1 million Civic Center, and built adjacent to the Civic Auditorium.

The name was changed to the Seattle Center Arena after the 1962 World's Fair (the Space Needle and Seattle Center Coliseum were built at that time, completing the 'Seattle Center' complex). In 1962, the adjacent Civic Auditorium was gutted and reopened as the Seattle Opera House.

In 1995, the name was changed, yet again, to the Mercer Arena (aka Seattle Center Mercer Arts Arena). At the same time, the Seattle Center Coliseum was also renamed the Key Arena.

The building has sat dormant from 2003-2008. There are plans to convert the arena into a facility for the Seattle Opera (which is located in the adjacent Marion Oliver McCaw Hall, the former Civic Auditorium/ Seattle Opera House). There is also a Stone Temple Pilots concert scheduled for August 31, 2008, a throwback to when the arena was often used for Seattle's 'grunge' bands.