 Ibaeta stands on the former location for various factories (e.g., Cervezas El León) of San Sebastián, with the buildings of the old industrial estate being demolished in the late 20th century.The levelling of this large flat area paved the ground for a carefully planned modern and elegant housing estate, featuring a new university campus for the public University of the Basque Country (UPV-EHU) and institutions such as the Donostia International Physics Center or the Nanotechnology Center.A stream called Konporta flows down along the eastern side of the area, but it was canalized under the ground almost all along to its mouth on the bay pushed by urban building pressure.