Its construction was devised by Oriol Bohigas, David Mackay, and Albert Puigdomènec as a residential area in the otherwise industrial and working-class district of Poblenou, which underwent regeneration but involved massive expropriation, as well as the destruction of a sizeable portion of the district, including Industrial Revolution factories of architectural value such as Fàbrica Foret.

It follows essentially the reticular outline of Eixample and Poblenou, with about 2000 new apartments in the area, owned by the mixed public-private company VOSA (Vila Olímpica Societat Anònima).

The main campus of Universitat Pompeu Fabra is located between Parc de la Ciutadella and this neighbourhood.

The area includes the high rises Hotel Arts and Torre Mapfre, both of which are 154 m tall and were built in 1992.

The Torre Mapfre is located in this neighborhood, while the Hotel Arts, the Casino Barcelona and the Peix d'Or (goldfish), a large metal sculpture designed by Frank Gehry, are located at one edge of the Barceloneta neighborhood, close to the border with the Vila Olímpica del Poblenou.