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It is the largest and most important city square in all of Tenerife. It was built in 1929 on the site of Castillo de San Cristóbal, a 16th-century fortification, the remains of which can now be seen in an underground gallery located in the tunnel under the square.
In the center of the square there is a Monument to the Fallen, built in 1944 and dedicated to the victims of the civil war. It has the form of a high cross-shaped tower. At its base there is a crypt, now empty. It is decorated with four sculptures, including allegories of the Motherland and Victory, and two figures of soldiers. The walls of the monument's base are decorated with bas-reliefs.
There is also an artificial lake with a fountain on the square. On its edge there is a sign with the words "Santa Cruz". The structure is 11.1 m long and 1.4 m high.