The plaza is bounded to the south by the linked Opernhaus and Bernhardtheater buildings; to the west by the Utoquai lakeside promenade; and to the east by Theaterstrasse, across which is Stadelhoferplatz, with the Stadelhofen railway station and the terminus of the Forchbahn (FOB).

The area has been internationally known since 2009, when digging for an underground parking facility uncovered the remains of prehistoric pile dwellings.

[1][2] Remains were found in the immediate vicinity of this wetland soil settlement, Kleiner Hafner, in the lower basin of Lake Zurich.

On 19 December 1941, the Bernhard-Theater Zürich opened as an entertainment theater for plays, farces and comedies in the Swiss-German language.

[9] The planning works were done by Zach + Zünd Architekten, Vetsch Nipkow Landschaftsarchitekten, Heyer Kaufmann Bauingenieure.

The aim of the city government was to "upgrade for pedestrians in Zurich at a central location, to create a place with international appeal".

The material was "thoroughly tested over a long period", with respect to cleaning, slip resistance or behavior during prolonged heat.

Additionally, the impact of elephant dung on the Vals quartzite was tested and anchorages for the Knie's circus tent firmly integrated in the surface structure.

[10][11] The natural stone tiles of the Vals quartzite occupies an area of 12,600 square metres (135,625 sq ft).

[9][12] Rooms under the square, below the groundwater level, provide the hidden infrastructure for lighting, electrical power distribution, and the pumps and control systems for the fountains.

As of 2016[update], it is the most elaborate water feature in Zurich, with individual programmable control to each nozel which can jet fountains up to 8 metres (26 ft) in height, and can accompany a piece of music.

In the summer months, the square must have full public access for at least 120 days to fulfill its function as the main inner-city space, so summertime events are limited to the area of the former Sechseläutenwiese.

The former Theaterplatz square in front of the Opera House serves as the connection between Stadelhoferplatz and the Lake Zurich lakeshore.

[8] Wienachtsmärt, a Christmas fair, is a new event first held in 2015, opened on 19 November by Zurich's mayor, Corine Mauch.