The square today is a popular meeting place and is often used as a starting point for sightseeing in Old San Juan as it is located close to the main cruise ship docks, numerous restaurants, cafés and gift shops, and important landmarks such as San Cristóbal Castle, Tapia Theater, the Old Casino and the Puerto Rico Capitol.

The area was originally considered an important transportation and social center in San Juan.

[1] The Christopher Columbus statue was first erected in the area in 1893 to celebrate the 400th anniversary of the European "discovery" of Puerto Rico.

Before its construction in 1897, the plaza used to be the eastern end of the defensive wall system that surrounded San Juan.

[3] The square today is paved with marble tiles and lightened by adorned lamp posts which were installed during the revitalization of the area in the latter half of the 20th century.