Nicollet Mall opens in downtown Minneapolis.

The pedestrian walkway closed to all traffic except buses has developed into a hub of Minneapolis' business, as it is home to Target headquarters, Macy's, WCCO-TV studios, as well as countless restaurants and clothing outlet stores.

Spanning 12 blocks, it is also home to countless parades, including the popular holiday celebration, the Holidazzle.

Recently, a large amount of apartments and living spaces have popped up on the north end of Nicollet Mall, consistent with increased housing in popular consumer hubs in Minnesota's largest city.

By 2016, $40 million will be poured into the area, as a semi-facelift for the 46-year old chunk of Minneapolis.