It is located in front of the Basilica of San Francisco (from which it takes its name) as well as the Lanza Market [es] and the headquarters of the La Paz Factory Worker's Departmental Union Federation.
[1] Together with the 1,140-square-meter Plaza Fabril constructed at the same time in front of the Factory Worker's Federation, it constitutes the largest open public space in urban La Paz.
[1] It is located in the old town, and bordered on the north by Perez Velasco street, which is a short segment of La Paz's main artery.
Following the dictatorship years of 1971–82, elected president Hernán Siles Suazo came to the Plaza first upon returning from exile.
[1] In the 2003 Gas War, the plaza was the central gathering place for crowds opposing the privatization of Bolivia's gas resources and demanding the resignation of President Gonzalo Sánchez de Lozada.