The development sits on a jeepney terminal servicing areas around Quezon City and the Province of Rizal, and the private Araneta White House (Bahay na Puti) complex.

As the carnival declined in the 1990s due to rising competition from other amusement parks, mall-based entertainment, political unrest, and other technological shifts, the Araneta Group decided to move the carnival into an open lot located in the south west corner lot of the complex, across SM Cubao.

Guided with the continuous success of the BPO industry and related companies within the area, as well as an increase of deals, partnerships, and potential investment opportunities between the Araneta Group and various BPO firms, and a rising trend of green office developments throughout the country, a newer and updated master plan was finalized, consisting of 5 PEZA certified and LEED-approved towers, with 3 levels of retail podium spaces, surrounding the future Gateway Mall 3 set to rise in the complex, and are also connected to malls and nearby buildings such as SM Cubao, Ali Mall, the Manhattan Gardens condominiums, the Araneta Coliseum, the New Frontier Theater, the Novotel Manila Araneta City and the upcoming Ibis Styles Araneta City.

[12] The development is also connected to major transport hubs such as the MRT 3 Cubao Station, the LRT 2 Cubao Station and transport terminals, with future connections to the Gateway Mall 3, and the Gateway Mall 2, primarily attracting business process outsourcing and corporate services companies, with plans laid out to also cater Philippine Offshore Gaming Operators.

The building has 15,000 m2 (160,000 sq ft) of total office space, and features retail stores located at the ground floor.

The future development will feature eco-friendly initiatives, additional retail spaces and an elevated, green, outdoor park, and is currently on the planning stage.

In 2019, Accenture began relocating their business activities from the Gateway Office Building to the Cyberpark Tower 1 in order to cater the company's expansion, which was completed in 2022.

[19][20] Cibo, an Italian restaurant owned by Margarita Forés, occupies office spaces along the tower's seventh floor, which serves as the company's headquarters.

The tower's commercial level area is also occupied by gyms, beauty services stalls, banks, a 7-Eleven convenience store; restaurants, food stalls and coffee stores such as Taco Bell, CoCo Fresh Tea & Juice and Starbucks; and The Medical City Clinic Cubao Branch.

[21][22] On 31 August 2023, Everise became the tower's latest tenant, and serves as the company's first branch in Quezon City.

In February 2023, R1 RCM, an American healthcare BPO company became the latest tenant to occupy the building.

The tower also features a curved building design with floor-to-ceiling double-glazed energy-efficient windows, smart elevators, side balconies with planters, solar panels, and a rainwater recovery system.

[39] In August 2022, the general contractor for the project was awarded to Datem Incorporated, while the tower's groundbreaking phase continued in December 2022.

[2] On 6 February 2023, the first concrete pouring of the tower began in a ceremony attended by various Araneta Group officials, along with Binibining Pilipinas contestants.