This square is situated on the site of the former moat between the Old and New Towns. The large open space near the medieval city centre inspired the construction of a number of significant buildings at the turn of the 20th century, such as the Municipal House (Obecní dům) near the Powder Tower (Prašná brána), the Hybernia House (Dům U Hybernů) and the Jiří z Poděbrad Barracks. A large part of the square is now a pedestrian zone connecting the two large shopping centres Palladium and Kotva. Source: Prague City Tourism