The plaza’s name commemorates a historical event. After the triumph at the Battle of Chacabuco in 1817, the Liberation Army of Los Andes made camp here overnight. Beside it is the Chile Hippodrome, built in 1906, and the Santa Laura de la Unión Española stadium, opened in 1923. Both position the neighborhood as an emblem of local sports history and heritage. The effort and organization of the working class was channeled into the construction of various surrounding neighborhoods such as La Vega and El Mercado, Hipódromo, Zapateros, Carabineros, Municipio de Santiago, Empleados Públicos and Periodistas, each of these being named after the vocation of the local workers.

It was declared a Heritage Area in 2019.