The square , semicircle in design with over-sized walls , was built in 1942 by architects Ovalle and Sarabia , in parallel with the Avenida Diagonal Pedro Aguirre Cerda . The design was selected from an open architectural competition in 1941 by the " Cash for reconstruction and relief " after the 1939 Chillán earthquake . The work was funded by the Pacific Steel Company ( CAP ) and was completed in the mid-1950s . As a civic hub , it connects the main campus of the University of Concepción with the city center . Originally , it served as the meeting place of European immigrant families who arrived in Concepción . Its surrounding buildings , neoclassical in style , are of the late 1940s era , with interior terraces and balconies influenced by Parisian around of the square . There were also homes of foreign engineers and technicians who emigrated to Concepción to work on CAP and later in Siderúrgica Huachipato . Still later , several of these houses were inhabited by Chilean residents . In 1950 , a round fountain was installed in the center of the square
1939 Chillán earthquake
1939 Chillán earthquake
Plaza Perú (Concepción)