This square is at the entrance of Rua da Cedofeita and is called Carlos Alberto in homage to the king of Piemonte and Sardinia, who after falling from the throne in 1849, found refuge in the city of Porto, in the Palacete dos Viscondes de Balsemão, a manor house which is located in this square.
In times gone by, it was once called Feira das Caixas (Box Fair) because there used to be a carpenters tent there where they would make the cases used by emigrants going to Brazil.
In this same square, in 1928, was the inauguration of the Monument to the Fallen in the Great War (Monumento aos Mortos da Grande Guerra). More recently, in 2001, a large underground car park was built in the square, which meant that it had to undergo some changes.