Though there is no longer intercity passenger service to or from Mexico City, the station is still the terminus of the Tren Suburbano commuter rail line, in a complex together with a major shopping mall, the Forum Buenavista.

The name of the colonia is from a former owner of the lands here, Miguel Pérez de Santa Cruz Andoboya, the Marquis of Buenavista, who was the mayor of Mexico City three times during the 1710s and 1720s.

The mansion of the marquis was located in front of the small plaza which is on Avenida Puente de Alvarado, near the current offices of the Institutional Revolutionary Party.

[3] During the 18th century, the area was filed with large orchards and gardens that stretched to what is now the Calzada de San Cosme.

Part of it was purchased by the Ferrocarril Mexicano, which opened Buenavista Street to provide better access to the nearby train terminal.

The goal of the development projects have been to revitalize the area which had deteriorated badly since the closing of the rail yards in the 20th century.